Sue Brake to leave Future Fund

Future Fund chief investment officer Sue Brake is leaving the sovereign wealth fund for family reasons.

Brake has been chief investment officer of Future Fund since December 2020 but has acted in the role since July 2020. Prior to that she was deputy chief investment officer, portfolio strategy for a year.

In announcing her decision, Brake said: "I am very proud of the Investment team's achievements over the past few years, which will enable the Future Fund to continue its critical mission of investing for the benefit of future generations of Australians."

"It has been a privilege to contribute to the success of the Future Fund and to work with such a talented team of investment professionals.

"I am looking forward to this period where I can focus on my family, and grateful that I am able to leave the team and portfolio in very good hands to do that."

Chief executive Raphael Arndt will act as chief investment officer until a replacement is appointed. However, Future Fund has restructured its investment team "so that the function is best placed to meet the challenges of the evolving macro environment".

The team now has three deputy chief investment officers. They are deputy chief investment officer, change and innovation Wendy Norris, deputy chief investment officer, portfolio construction Ben Samild, and deputy chief investment officer, private markets Alicia Gregory.

"The new team combines deep skills and capabilities, and a range of perspectives and tenures with the Future Fund," the fund said.

Commenting on Brake's decision, Arndt said: "I want to thank Sue for her valuable contribution to the Future Fund during a time of unprecedented change in global markets and economies.
"Her leadership and work on the review of the investment strategy leave a significant and positive legacy at the Future Fund."

"We wish Sue all the very best for the future."

Prior to joining Future Fund, Brake was head of strategic advisory and a senior investment consultant at Willis Towers Watson and, before that, was a senior investment strategist at NZ Super Fund. She has previously served as an external expert to the International Monetary Fund and currently sits on the investment and risk advisory panel of the Monetary Authority of Singapore.