Australian Retirement Trust (ART) has hit a new growth milestone as it crosses $300 billion funds under management, having added over $40 billion in the last financial year.
As it enters its next phase of strategic growth, the fund has announced a new streamlined operating model that focuses on three lines of business, namely investments, workplaces, and members.
The three lines of business will be enabled by an integrated operations and delivery team, to be overseen by ART’s new chief operating officer Kathy Vincent, who has served as its chief retirement officer since December 2023.
ART elaborated that the new operating model is to be supported by specialist enterprise partners covering finance and strategy, people and culture, risk and compliance, and enterprise services.
“Australian Retirement Trust has an impressive legacy of accomplishments, and the time is right to now focus on our future and how we will unlock our potential and support our members to retire well with confidence,” said ART’s chief executive, David Anderson.
“I strongly believe Australian Retirement Trust will be the distinctive market leader in retirement if we put our collective focus on becoming world class in four disciplines – strong investment performance, innovative retirement solutions, and excellent member and digital experiences, all underpinned by outstanding governance practices.”
Under the new operating model, the fund’s revamped executive committee will comprise:
- Ian Patrick as chief investment officer
- Kathy Vincent as chief operating officer
- Simonne Burnett as chief member experience officer
- Anne Browne as chief people officer
- Julie Bingham as chief enterprise services officer
- Anthony Rose as chief financial officer
ART also announced Steve McKay will serve as interim chief commercial officer, replacing Dave Woodall, who leaves ART after nine years to join another organisation.
Meanwhile, Dianna Orbelle has been named interim risk officer.
ART will also see the departure of Lachlan East, who was chief member officer, and will exit at the end of August after 12 years at the fund.
Looking at its growth in the last year, ART said it added more than $40 billion of funds under management, $19 billion of which comprised four successful mergers with Commonwealth Bank Group Super, Woolworths and Endeavour Groups, AvSuper and Alcoa Super.
ART also announced its latest merger partner in Qantas Super last week and is set to welcome some 26,000 members and $9 billion in assets under management in 2025.
