Defined Contribution

Local Government Super taps new CEO

David Smith was named CEO of the Sydney-based Local Government Super, according to a news release from the A$10 billion ($8 billion) superannuation fund.

He replaces Peter Lambert, who left the fund in April after almost a decade in that role. Mr. Lambert's plans could not be learned by press time. Since his departure, Donna Heffernan, the fund's chief governance officer and company secretary, has been serving as acting CEO.

Mr. Smith was previously CEO of insurance company AXIS Specialty Australia.

Officials at Local Government Super could not be reached by press time.