Industry super fund Equip has confirmed plans to merge with the Rio Tinto Staff Superannuation Fund.
The merged entity will manage $14bn and will operate under the Equip brand. It will have over 75,000 members.
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The combined group will be led by Nicholas Vamvakas as CEO. Equip also appointed two additional independent directors, thereby incorporating the one third/one third/one third governance structure.
The group’s member directors are Jan Dekker, Pippa Leary and Jane Simon; employer directors are John Azaris, Mark Cerche and Michael Clinch; and independent directors are Andrew Fairley, Justine Hickley and Wayne Walker.
Equip chair Andrew Fairley said: “Nick is supported by a strong team at Equip that has been able to continue to roll out new products, services and platforms while successfully bringing this merger to fruition. The Equip team will be supplemented and strengthened by the addition of the former Rio Tinto Staff Superannuation Fund employees.
“Our focus will be to provide personalised services to members and customised reporting and advice to corporate clients. This will be the key future retention and growth and help members to achieve financial security in retirement.”
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By GlobalData
