Scott Cameron will become CEO in September of Equip Super and Catholic Super, two Melbourne-based superannuation funds that announced plans in May to take advantage of a new operating model to consolidate their investment and back-office operations while maintaining their distinct brands.
Mr. Cameron, who currently serves as CEO of Computershare's Australian and New Zealand operations, will take the helm at the two super funds in September, and then head the joint company overseeing Equip Super and Catholic Super when it begins operating in October, a joint news release Monday said.
A Computershare spokesman in Australia couldn't be reached for comment. Likewise, spokesmen for Equip Super and Catholic Super didn't respond to inquiries regarding the future plans of their respective CEOs, Nick Vamvakas and David O'Sullivan.
Equip Super Chairman Andrew Fairley said in the news release that Mr. Cameron's experience in "bringing diverse businesses together made him the perfect candidate to lead the funds through a new era of change and growth."
Officials at the two funds had predicted earlier that the "extended public offer" model, which allows them to consolidate operations while maintaining separate brands, would facilitate industry consolidation.
The news release said with Equip Super's A$16 billion ($10.8 billion) in retirement assets for more than 72,000 members and Catholic Super's more than A$10 billion on behalf of 75,000 members, the joint venture's A$26 billion would make it Australia's 10th largest non-profit superannuation fund.
Mr. Fairley predicted the joint venture could grow to about A$50 billion in investments by 2025.
