Joe Youssef appointed Cbus Chief Operating Officer - Investments
3 April 2017
Cbus Super, the Industry Super Fund for the Construction, Building and Allied Industries has appointed Joe Youssef to the newly created senior leadership role of Chief Operating Officer – Investments.
Chief Investment Officer Kristian Fok said the Fund was delighted to promote Mr Youssef into the role given his outstanding leadership and relationship management skills and proven track record in investment operations.
“Joe has been an integral member of our investments team for more than four years and will play a key role in steering the Fund for continued success in the years to come,” Mr Fok said.
“Cbus has experienced significant growth over the last few years and with the Fund expecting to grow to more than $60 billion in the next five years, having the right team in place is essential.”
”I’m appreciative of this great opportunity to lead our experienced team in tackling the challenges we face with the ambitious programme of work the Investments team has committed to,” Mr Youssef said.
Mr Fok said the Fund is looking to the future and ensuring the right structure is in place to support the new investment model.
“A significant focus of our new investment model is the internalisation of a number of direct investment strategies and driving down investment costs to maximise the retirement outcomes of our 750,000 members,” Mr Fok said.
We’re extremely proud of delivering an average return of 9.24% over the past 33 years1 and we’re focused on continuing to deliver a strong performance.
The role of Chief Operating Officer – Investments was established following a restructure of the investments team after the departure of Ms Trish Donohue after almost 18 years.
The new senior strategic leadership role within Cbus’ dynamic and growing Investment team will have ownership and accountability for back and middle office and investment support teams including Operations, Analytics, Risk, Legal & Governance and Tax.
1Since inception to 30 June 2017, based on the crediting rate, which is the return minus investment fees, the Trustee Operating Cost and taxes. Excludes account keeping administration fees. Past performance is not a reliable indicator of future performance.