Retirement Plans

First State Super CEO to retire after 14 years at the helm

Michael Dwyer, CEO of Sydney-based First State Super, will retire at the end of November when his current contract ends.

Over Mr. Dwyer's 14-year stint at the helm, First State Super has grown to oversee A$90 billion ($67.9 billion) in retirement savings for 800,000 superannuation members and clients from A$9 billion for 450,000 members in 2004, a news release said.

Michael Baldwin, First State Super's head of corporate affairs, said executive search firm Korn Ferry has been hired to conduct the search for Mr. Dwyer's successor.

The news release said Mr. Dwyer will remain in his role until the new CEO settles in later this year.