First State Super names new CEO

Deanne Stewart, current CEO of Metlife’s Australian business, will take over in November after Michael Dwyer retires.

First State Super has tapped Deanne Stewart to succeed outgoing chief executive Michael Dwyer when he retires on 30 November after serving 14 years in the role.

Stewart is currently chief executive 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.

“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,” First State Super chairman Neil Cochrane said.

“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.”

As at 30 June 2017, First State Super, one of the largest profit-for-member financial services organisations in the country, had A$63.7 billion ($48.0 billion; €40.6 billion) of assets under management, as well as A$18.2 billion through StatePlus, the financial planning company it purchased in 2016.

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