Future Fund announces new chief executive

The Future Fund has announced former Pendal Australia chief executive Richard Brandweiner will be its next chief executive.  

Brandweiner will follow a well-trodden path within the sovereign wealth fund, stepping up from chief investment officer, but his elevation has come unusually quickly; he only joined the Future Fund Management Agency at the beginning of July.

The appointment follows current chief executive Dr Raphael Arndt’s decision to return to the private sector after almost 20 years with the Future Fund, the last six years as chief executive.

Chair of the Future Fund Board of Guardians, Greg Combet, AO, said Brandweiner was an outstanding leader with deep experience in leading investment institutions and a strong understanding of the environment in which long-term investors operate. That experience would be important as the organisation continued to invest its portfolio of over $350 billion for the benefit of future Australians.

Combet also expressed the board’s deep appreciation to Arndt for his “exceptional service” to the fund.

Brandweiner said he felt privileged to have the opportunity to lead the Future Fund. He said the organisation had strong foundations and a depth of talent and he looked forward to working with the board and the fund management team to “continue delivering long-term investments in a rapidly changing investment environment”.

The Board of Guardians said Brandweiner’s appointment followed a comprehensive search process conducted in accordance with Australian Public Service requirements.

Arndt will continue as chief executive until the end of the year with Brandweiner taking over the role on 1 January.

Prior to becoming chief executive of Pendal, Brandweiner’s more than thirty-year investment management career included serving as chief investment officer of First State Super, now Aware Super.

Image: Richard Brandweiner.