ANZ Staff Super loses investment head

ANZ Staff Superannuation's investment chief Ruwanie Dias has stepped down after nine months in the role, prompting fresh questions about the $7 billion fund's strategic direction.

Dias, who was responsible for the fund's entire investment strategy across public and private markets, also helmed the corporate fund's multi-manager portfolios.

The departure is notable given Dias's strong industry background.

She spent over a decade at Commonwealth Bank Group Super, including seven years as chief investment officer, before joining ANZ Staff Super as head of investment operations in 2014.

Earlier career positions included roles at WorkCover NSW and Mercer.

The brief tenure adds weight to industry speculation that ANZ Staff Super, among the very few remaining corporate funds, may be considering merger options.

Potential partners mentioned in market discussions include Australian Retirement Trust (which acquired CBA's scheme), Equip, or Mercer.

Interestingly, following Dias's departure, ANZ Staff Super made two strategic appointments. Jo McKinstray assumes the deputy head role, while Carolyn Tait takes on the newly established member experience lead position.

McKinstray brings considerable institutional knowledge, having served as a member-elected director for several years alongside extensive ANZ Bank experience across customer advocacy, risk and operations. She recently led the fund's administration transition from Mercer to MUFG, demonstrating operational expertise.

For her part, Tait arrives with impressive corporate super pedigree, most recently serving as head of member experience at Club Plus Super. Her resume includes senior marketing roles at Macquarie, AMP, CBA and Zurich, giving her a broad perspective on member engagement strategies.

The leadership changes extend beyond ANZ Staff Super, with chair Janet Torney departing after two years to join Commonwealth Superannuation Corporation. Torney will replace long-serving chair Garry Hounsell, who completed nine years on the CSC board.

Finance Minister Katy Gallagher announced Torney's CSC appointment, highlighting her "strong leadership skills and decades of industry experience."

Torney previously chaired trustee boards at Perpetual Superannuation and Club Plus Superannuation.

"Under Ms Torney's leadership, CSC will continue in its commitment to helping members achieve the retirement they deserve and have worked for," Gallagher said.

Torney acknowledged the career move meant resigning from both Perpetual Superannuation and ANZ Staff Superannuation.

"Over my years with both superannuation funds, I have witnessed ongoing growth and development and an unwavering focus on the members," she said.