In a statement, Equity Trustees announced that Mr Lally will replace outgoing chair John Crocker as of 1 June.
Mr Lally was chief executive of industry fund Sunsuper for six and a half years from 2007 to 2013.
Before that, he set up and was a partner at Deloitte Japan, based in Tokyo. He has also worked at Deutsche Asset Management as head of retail funds management for Asia-Pacific, and was general manager of retail financial services at CBA from 1993 to 2000.
Mr Lally also has extensive board experience, and currently or has sat on the boards of Self Wealth, the Association of Superannuation Funds of Australia (ASFA), the International Centre for Pensions Management Cycling Australia, York Management Institute, and BPS Technology.
Commenting on the appointment, Equity Trustees managing director Mick O’Brien said the company looked forward to working with Mr Lally in building the business.
“Mr Lally brings excellent expertise and experience in areas including life insurance, funds management, strategy development, sales and marketing, financial management, superannuation, risk management and financial planning in Australia and internationally,” Mr O’Brien said.
He also expressed his gratitude to Mr Crocker for over 10 years of service on Equity Trustees’ board.
“Mr Lally will admirably follow in the footsteps of Mr Crocker. We are very fortunate to attract experience of this calibre and quality to our Board,” Mr O’Brien said.
