Cbus Super CEO David Atkin to leave fund after 12 years
Cbus Super, Australia's leading building and construction industry superannuation fund, has announced CEO David Atkin will leave the fund in mid-2020 after more than 12 years at the helm of the $56.5 billion fund.
Cbus Super Chair Steve Bracks thanked Mr Atkin for his exceptional leadership of the fund and his dedication to improving the quality of retirement outcomes for Australians.
"David has been CEO of Cbus for over a third of its existence and over that time the fund has become an industry leader and a sophisticated global investor," Mr Bracks said.
"While we are obviously very disappointed to see David move on, we congratulate him for his achievements and his dedicated service to the men and women of the building and construction industry.
"David is person of utmost integrity and decency, a humble and tireless leader whose commitment to members is apparent in everything that he does.
"Under David's leadership the fund has grown from $12 billion in funds under management to $56.5 billion today.
"Cbus’ investment performance has been in the top 5 funds over the last decade.
"Cbus consistently ranks in the top few funds on trust and satisfaction which is a clear endorsement of the member first culture David has driven."
Mr Bracks said Mr Atkin’s global leadership on responsible investment and corporate reporting would be a lasting legacy for the Australian superannuation industry.
“David’s role in making climate change a prominent focus for investors has been a particular focus,” Mr Bracks said.
“David is an elder statesperson of the responsible investment community both in Australia and overseas.
“His thoughtful approach and long-term vision on sustainability has contributed in no small way to the current momentum on climate related investment.
“Under David’s leadership, Cbus has been recognised as a leader on Integrated Reporting in Australia and abroad.”
“Cbus is recognised as an employer of choice and David has driven a strong focus on gender diversity as a Male Champion of Change, understanding the positive impact this has on investment outcomes and broader fund performance.
Mr Atkin said he was immensely proud of what Cbus had achieved over the last twelve years and after reflecting with family over summer had decided it was time to explore other opportunities.
"I like to think over the last twelve years Cbus has delivered an exceptional service for members," Mr Atkin said.
“Members have been at the heart of everything that we do.
"It's been a privilege to lead a fund with such a strong understanding and connection to its history.
"Cbus members fought for and won the right to superannuation at time when super was only for white collar professionals.
"Throughout my time at the fund I have been determined to make sure that we fulfil our members’ vision, and we are well and truly on the right track.
“The fundamentals of Cbus are as strong as ever and now is the right time to hand over the reins to a new leader.
"I would like to thank Steve Bracks, all of the board trustees and my group executive team for their leadership and support during my tenure.
"I have been inspired every day by the energy and commitment of the Cbus staff. Together we have built a member focussed culture which demonstrates how ethical, human centred financial services can be delivered.”
Mr Atkin will remain as Cbus CEO while an extensive executive search is undertaken, which is expected to be finalised by mid-2020.
"The timing is right for the next CEO to take the fund forward."
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