The pair is two of three independent executive directors to join the board, with LGS stating the appointments will build the fund’s skills in targeted areas.
The outgoing chair, Bruce Miller, will remain with LGS as deputy chair.
Mr Miller commented the new chair, Mr Loades, brings board experience with organisations such as the NRMA, Credit Union Australia, in addition to his roles with community organisations and as a business founder.
“His focus on member-based organisations and innovation will be an asset to the LGS board as we work to deliver the best possible retirement outcomes for our members,” he said.
He added Ms Orleow is the fund’s first female independent director.
“Sandi has extensive board experience in the local and global financial services sector, with a particular focus on superannuation, investment management and consulting,” Mr Miller said.
“Her in-depth financial services expertise will make her a great asset to the board. She is a strong advocate for innovation and growth strategies to allow these to be considered and successfully integrated in traditional business for the benefit of members.”
Mr Loades commented LGS has potential to grow as the company enhances member value.
“The board sees opportunity to enhance member value in the future,” he said.
“In line with APRA’s expectations and support, this will be an active consideration for the board and the leadership team.”
LGS acting chief executive Donna Heffernan commented similar to Mr Loades’ experience in member-focused organisations, Ms Orleow has held director and investment committee roles at CFA Societies Australia, Statewide Super, Women in Super.
LGS now manages around $12 billion in superannuation assets for around 90,000 members, including current and former NSW local government employees.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
