Australian Future Fund names its new board chairman

David Gonski was named chairman of the Future Fund Board of Guardians, which manages the Australian government's A$90 billion (US$94.3 billion) Melbourne-based sovereign wealth fund, according to a release on Australian Deputy Prime Minister and Treasurer Wayne Swan's website.

The appointment is for a five-year term.

Mr. Gonski replaces David Murray, who is retiring. Mr. Murray, the inaugural chairman of the International Forum of Sovereign Wealth Funds, a voluntary group of SWFs that exchange views on issues of common interest, will continue in that role until next year.

Mr. Gonski is chairman of ASX Group, according to the release. He has indicated to the board that will step down from his chairmanship at ASX Group by June 30; his position on the Singapore Airlines board expires in July.

Also at the Future Fund, Steven Harker was appointed to the board as a guardian for a five-year term, replacing Brian Watson, who was a founding member of the board in 2006.

Mr. Harker is CEO and managing director of Morgan Stanley (MS) Australia and a director of the Australian Financial Markets Association and Investa Property Group.