First State Super names new CEO

First State Super has named Deanne Stewart as its new chief executive officer.

Stewart will succeed outgoing CEO Michael Dwyer, who is retiring from the role after 14 years and will step down on 30 November. Stewart will take over when Dwyer steps down.

Stewart is currently CEO of Metlife’s Australia business, a role she has held since 2014. She was previously general manager of BT Financial Group’s superannuation business, head of Westpac Private Bank in New South Wales and ACT, and a managing director at Merrill Lynch Investment Management in New York.

First State Super chairman Neil Cochrane said: “The board and I felt that Deanne’s extensive experience and achievements in superannuation, investment management, insurance, strategy and marketing made her an excellent candidate to become our next CEO.

“The priority that Deanne places on relationships with people – be it our members, our stakeholders or our employees – was evident in each of the conversations the board and I had with her. Deanne will be a strong champion of the core values that drive our success.

“Importantly, Deanne’s management career has given her a close understanding of the investment management process.”

First State Super had A$63.7 billion ($48.0 billion; €40.6 billion) of assets under management as at 30 June 2017, as well as A$18.2 billion through StatePlus, the financial planning company it purchased in 2016.

In ag, infrastructure and other real assets, it has invested with GPs including Blue Sky Water, Brookfield Asset Management, Morgan Stanley Investment Management, IFM Investors and Orion Energy Partners.