Equip and Rio Tinto Staff Super Fund to merge
Superannuation | 19/06/2017 |
3 min read
Equip and the Rio Tinto Staff Superannuation Fund will merge on 1 July 2017. The $14 billion fund will continue under the Equip name with a membership of over 75,000.
Equip Chair, Andrew Fairley AM, has also announced the appointment of Nicholas Vamvakas as Chief Executive Officer and named the directors of the restructured Equip board, who will lead the fund from
1 July 2017.
With the appointment of two additional independent directors, Equip moves to the one third/one third/one third governance model, which it believes delivers the capacity to ensure the fund has the best skills and experience to deliver the outcomes members and employer will expect in the future.
Mr Fairley said Mr Vamvakas’ appointment as CEO would enable Equip to maintain momentum in its strategy to grow and ensure its success in a digital world.
“Nick is supported by a strong team at Equip that has been able to continue to roll out new products, services and platforms while successfully bringing this merger to fruition. The Equip team will be supplemented and strengthened by the addition of the former Rio Tinto Staff Superannuation Fund employees.
“Our focus will be to provide personalised services to members and customised reporting and advice to corporate clients. This will be the key to future retention and growth and help members to achieve financial security in retirement,” he said.
The move to one third of the board being comprised of independent directors, implements the governance structure announced previously by the fund. The appointees are:
||Andrew Fairley (Chair)
For a copy of the full media statement, please click here.