Bernard Reilly resigned as chief executive officer at the Australian Retirement Trust, Brisbane, and will leave the super fund in February, a spokeswoman confirmed.
ART was formed through the merger of QSuper and Sunsuper last year, with Mr. Reilly named as the combined superannuation fund's first CEO. He was previously the CEO of Sunsuper for four years.
ART has continued to merge with other super funds and has grown to A$260 billion ($168.9 billion) pot of assets. In August it acquired the superannuation assets of Woolworths Group and Endeavour Group. It is also in the process of merging with Commonwealth Bank Group Super, Sydney; AvSuper, Canberra; and AlcoaSuper, Melbourne, which will be completed by the end of the financial year in June. These mergers will add A$16.3 billion in assets.
"This has been an enormous decision for my family and me, but I know that I am stepping away at the right time for Australian Retirement Trust," Mr. Reilly said in the statement. "I will leave behind a highly experienced and talented executive team who at the core have a commitment to serve Australian Retirement Trust's more than 2.3 million members," he said.
ART has appointed advisory firm Egon Zehnder to conduct a global search for his replacement, the statement said.
