legalsuper to lose two C-suite execs, CEO moves to Equip

legalsuper has announced it is set to lose both its chief executive and chief investment officer later this year.

Chief executive Luke Symons will depart at the end of the financial year after three years, having taken up the role in April 2023.

Instead, Symons will join Equip Super from 1 July, taking over from Scott Cameron and chief financial officer Marc Pizzichetta will hold the role at Equip in an acting capacity.

As well as this, CIO Andrew Lill will also leave on the same date to take up a role outside of superannuation. He has only been with the fund for a year, joining last March from Rest.

Independent chair, Kirsten Mander, said: “During his time with legalsuper Luke worked with our board and executive team to deliver considerable strategic and structural development for the benefit of our growing membership.

“Evidence of this development is demonstrated by achievements in key performance metrics including sustained top quartile investment returns and solid membership growth combined with strong member satisfaction levels.”

Symons commented: “legalsuper has developed a strong reputation as a high-performing specialist superannuation fund at the forefront of member-centric endeavour. The fund is well-placed to continue on this trajectory and I thank the board, staff and members for their support during my time as chief executive.”

The fund has appointed recruitment firm Sheldon Harris to commence the recruitment process.

legalsuper is not the only super fund looking for a new CEO as HESTA chief executive Debby Blakey is to step down after a decade in the second half of the year. The $100 billion super fund which specialises in healthcare workers aims to have a new name announced by July, it said.

Meanwhile First Super has appointed an acting CEO in the shape of Greg Everett while it seeks a replacement for Bill Watson who left to join BUSSQ in January.

Finally, Equip Super chief executive Scott Cameron will depart at the end of March and its chief financial officer Marc Pizzichetta has been appointed in an acting capacity.