Future Fund names new investment chief

Future Fund has appointed Richard Brandweiner as its new chief investment officer, effective 1 July 2026.

Brandweiner was previously chief executive of Pendal Group from 2018 to 2023. Prior to that he was chief investment officer of First State Super (now Aware Super) and group executive at Perpetual Investments.

More recently he has served on several boards and investment committees. He is chair of Impact Investing Australia and also sits on the investment committees of several family offices.

He is also on the investment committee of Aboriginal Investment NT and is chair and co-founder of OpenDirector.

Australian Ethical Investment (AEI) announced this morning Brandweiner has stepped down from the AEI board to take up his new role.

"Richard has brought deep investment insight and a strong commitment to responsible and impact-led investing, and we thank him for his valuable contribution and service to Australian Ethical. We congratulate him on this exciting role at the Future Fund and wish him all the best for the future," AEI chair Steve Gibbs said.

The appointment follows a global search process in line with Australian Public Service requirements, Future Fund said.

Future Fund deputy chief investment officer Hugh Murray will continue as interim chief investment officer until Brandweiner starts his new role.

"I am delighted to welcome Richard to the Future Fund. He is an experienced investor and executive and has significant experience in leading investment teams to achieve their mandates," Future Fund chief executive Raphael Arndt said.

"I thank Hugh Murray for serving as interim chief investment officer and for his leadership of the investment program through a period of very significant market uncertainty over recent months."

Speaking on his appointment, Brandweiner said the Future Fund has a compelling purpose as Australia's sovereign wealth fund.

"Its investment approach and capabilities are globally respected. I look forward to working with the team and the board of guardians to continue to deliver strong risk-adjusted returns for Australia," he said.

The announcement comes after Future Fund made a public statement earlier this week defending itself after reports alleging Arndt's leadership style may be forcing staff out the door.

The reports alleged Future Fund's former chief investment officer Ben Samild - who had been with Future Fund since 2013 - stepped down from the role after two years due to tension between himself and Arndt.

Samild left the fund to take on the chief strategist role at Abu Dhabi Investment Council. Following his footsteps were former deputy chief investment officer David George, who joined also joined the Abu Dhabi sovereign wealth fund as deputy chief strategist, and former investment professional Pradheesh Salvarajah, who took on a role as investment manager at Abu Dhabi Investment Authority.