Ian Silk, CEO of Australia’s largest superannuation fund, AustralianSuper, is planning to step down from his post after 15 years.
Silk will be succeeded by Paul Schroder, AustralianSuper’s current chief risk officer. Silk said his replacement is well suited to lead the fund on its next phase, with its assets under management expected to grow from the current A$225 billion ($168 billion) to A$500 billion ($374 billion) in the next five years.
Under Silk’s leadership, AustralianSuper has been able to bring more investment management in-house and take positions in major private assets including global infrastructure, according to The Sydney Morning Herald.
With this growth, AustralianSuper is expected to put a higher proportion of members’ savings in overseas assets. The proportion of Australian assets will steadily diminish to meet return needs for members.
Amid the COVID-19 pandemic, AustralianSuper logged a record
