QSuper CIO: “It has been a privilege”

QSuper Chief Investment Officer Brad Holzberger has publicly announced his intention to retire at the end of September 2019.

Mr Holzberger, who made the announcement to members at the Fund’s Annual Investment Update, has been at the helm of QSuper’s investment team since 2009 and directly oversees the investment of over $80 billion in funds on behalf of QSuper’s 570,000 members.

CEO Michael Pennisi said Mr Holzberger’s contribution to QSuper, and to superannuation policy more broadly, had been immense.

“There is no overstating the role Brad has played in QSuper becoming one of the largest, most trusted funds in the country,” Mr Pennisi said.

“In addition to building our in-house investment team from the ground up, Brad’s experience, foresight and genuine care about the retirement outcomes of each and every member formed the cornerstone of what is now our trademark investment philosophy – to provide members with strong, consistent returns over their working lives and into retirement.

“One of Brad’s greatest strengths is his ability to lead the development and implementation of a global investment strategy while ensuring that the people we are investing for are the heart of that strategy. His focus, and the focus of the investment team he has built, does not waiver from the hardworking Australians who trust us with their retirement savings. This will be Brad’s lasting contribution at QSuper,” he said.

“He was also one of the architects behind the award-winning QSuper Lifetime, Australia’s first two-dimensionally segmented lifecycle investment option which at the policy level, advanced the notion of fiduciary duty in default superannuation.

“More broadly, Brad’s knowledge and wisdom is often called on in industry and policy forums, and he has become a trusted advisor to not only our Investment Committee and Board, but to regulators and policy makers across the country who want to improve the system for the benefit of all Australians.

“Brad served as a Director of the Association of Superannuation Funds Australia (ASFA) from 2011 to 2017. He was also the Chair of ASFA’s Economics and Investment Policy Council. Last year, he became one of only 30 Australians to hold an ASFA life membership for outstanding contribution to the Australian superannuation industry,” Mr Pennisi said.

Mr Holzberger said; "It has been a privilege to work with the investment team, Board and other executives and staff at QSuper over many years.

“I am satisfied because our work over that time has challenged and improved investment thinking and practice.

“Still, much remains to be done to continuously improve and adapt to changes in investment markets around the world, which always offer new opportunities and threats. My contribution will come to an end next year, but I know QSuper will continue to improve and evolve."

Mr Pennisi said recruitment was now underway for a new CIO, with a view to facilitate a thorough and seamless handover next year.