Australian Reward Investment Alliance, trustee for A$16 billion (US$14.46 billion) of Australian government employees’ superannuation assets, will search for a new chief executive following the incumbent's decision to return to money management.
CEO Lochiel Crafter will leave ARIA around September. Peter Carrigy-Ryan, chief operating officer, will be interim CEO while a replacement is sought.
Mr. Crafter would not say where he was going, only that he would “turn up somewhere,” and that he would remain based in Australia.
Tony Hyams, the chair of both ARIA and the public sector fund with which it is slated to merge, the Military Superannuation & Benefits Board, said the board would discuss the process for replacing Mr. Crafter at its next meeting.
Michael Bailey is editor of I&T News in Sydney.