International

First State Super taps Metlife Australian insurance head as next CEO

Deanne Stewart will join First State Super as CEO in late 2018, according to an announcement Wednesday by the Sydney-based fund that oversees A$70 billion ($52.8 billion) in superannuation assets and A$20 billion in additional retirement assets.

Ms. Stewart will replace Michael Dwyer, who recently announced he would step down as CEO when his contract expires at the end of November.

Ms. Stewart will come to First State Super from Metlife, where she's served as CEO of the firm's Australian life insurance business since 2014, the news release said.

A Metlife spokeswoman said a search is underway to replace Ms. Stewart, who will be leaving the firm Friday.