30 March 2023
MEDIA RELEASE
After securing two major mergers to significantly expand the scale of Cbus Super, Justin Arter is retiring as Chief Executive Officer as the Fund embarks on the next stage of its growth plan.
Mr. Arter was appointed in July 2020 to lead Cbus and its merger-focussed growth strategy. Since then, he has significantly expanded Cbus’ membership, funds under management and industry footprint, completing a successful merger with Media Super and paving the way for a further merger with EISS Super, which is expected to conclude in May 2023.
With industry consolidation now slowing, the Cbus board has shifted the Fund’s attention to organic growth and member retention.
Mr. Arter will step down from his role as CEO and retire from Cbus in May after completing the Fund’s merger with EISS and supporting the Cbus management team in the leadership transition. The board has today appointed current Chief Investment Officer Kristian Fok as interim chief executive as it considers its approach to the appointment of a new CEO.
"I’m enormously proud of the strides the Fund has taken during my tenure and in recent years Cbus has grown strongly,” Mr. Arter said. “The successful mergers we have overseen have strengthened the fund's capacity to invest on behalf of our members and to deliver other important scale benefits for members.”
Cbus Chair, Wayne Swan, thanked Mr. Arter for leading Cbus’ recent growth strategy, with funds under management having risen from $56.5 billion to more than $73 billion today.
“Cbus, under Justin’s leadership, has adroitly navigated two significant mergers, successfully expanding Cbus’ funds under management, membership and industry footprint,” Mr. Swan said.
“Thanks to these successes, we are well placed to continue our journey of growth, with a renewed focus on retaining members and attracting new ones.”
Justin Arter joined Cbus following a highly successful career in institutional investment and superannuation, including roles as country head for Australia for BlackRock, head of the client business at BlackRock in London, and Chief Executive Officer of Victorian Funds Management Corporation.
Media enquiries:
Tristan Douglas, 0417 736 434, media@cbussuper.com.au
Elisabeth Bowdler, 0412 112 374, media@cbussuper.com.au
This information is about Cbus and doesn’t take into account your specific needs. You should look at your own financial position, objectives and requirements before making any financial decisions. Refer to Cbus Product Disclosure Statement, Target Market Determination and Financial Services Guide for more information. Call 1300 361 784 or visit cbussuper.com.au for a copy.
Cbus is the leading Industry Super Fund representing those that help shape Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 875,000 members and we manage more than $73 billion of our members’ money (as at 31 December 2022). Our members include workers and retirees, their families and employers. As of April 2022, Media Super is now a division of Cbus, offering Media Super products. For more than 30 years Media Super has been the industry super fund for Print, Media, Entertainment and Arts, and broader creative industries.
Issued 30 March 2023, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 (Cbus and /or Cbus Super).