Peter Chun was named the next CEO of UniSuper, Melbourne, the A$95 billion ($73.8 billion) super fund focused on Australia's higher education and research sector.
Mr. Chun will replace Kevin O'Sullivan on Sept. 6. Mr. O'Sullivan, with eight years at the helm, will stay on until then to ensure a smooth transition, according to a UniSuper news release Wednesday.
Mr. Chun was group executive, member growth, at Aware Super, Sydney. He was responsible "for leading the brand, marketing, digital, product and business development functions" at the A$140 billion super fund.
Mr. Chun's last day at Aware Super was Wednesday, a spokeswoman said. The executive led Aware Super through a recent re-branding exercise while delivering "an award-winning app that has put super right into the hands of our million-plus members," she noted.
The spokeswoman said Debra Mika, senior executive and chief of staff at Aware, will assume Mr. Chun's role on an interim basis, while a search, covering both internal and external candidates, is conducted to identify a permanent replacement.
Mr. Chun's experience at Aware could prove useful in light of UniSuper's recent announcement it will open the fund to new participants from outside the higher education and research sector, starting in July, with an eye to accelerating the scale of a participant base that currently stands at 450,000.
Australian regulators have called on super funds to achieve greater scale in pursuit of lower fees and sufficient resources to deliver superior investment results.