Industry fund chief executive retires

The chief executive at one of Australia's largest industry superannuation funds will retire at year's end.

Chief executive of First State Super, Michael Dwyer, will depart the 750,000 member super fund in November following his current contract expiring.

In a statement Dwyer said the fund was positioned well for the future.

"It's the right time to transition to new leadership. I look forward to continuing to lead the team until my retirement," Dwyer said.

"It has been a privilege and pleasure to be associated with First State Super over 14 years. Many of our members work in vocational roles including nurses and teachers, police and emergency service workers who dedicate their careers to helping others. I feel honoured to have played a part in helping them to achieve a better financial outcome in retirement."

The fund said Dwyer would remain as chief executive until his successor had settled into their new role, with a leading search firm appointed to identify the funds' new leader.

In 2008 Dwyer was inducted into the SelectingSuper Hall of Fame as winner of the Industry Service Award.

First State Super chairman Neil Cochrane highlighted the transformation of the industry fund under Dwyer's leadership.

"When Michael was appointed CEO in 2004, First State Super had 450,000 members, $9 billion in funds under management. Today First State Super is among the largest and most prominent superannuation funds in Australia managing over $90 billion in retirement savings on behalf of 800,000 members and clients," Cochrane said.

"The significant expansion and development of First State Super can in large part be attributed to Michael's strategic leadership and the importance he places on personal engagement and fostering a strong and inclusive workplace culture. Michael's leadership, integrity and values have formed the basis of our success as an organisation."

Read more: First State SuperAustraliaSuperannuationMichael Dwyer
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