Parkinson moves to super
A former leading federal public servant has joined the board of a major super fund.
The Australian Retirement Trust (ART) has welcomed Martin Parkinson, a former leading bureaucrat, and Helen Rowell, an ex-prudential regulator chief, to its board.
Andrew Fraser, ART chairman, says the appointments are a testament to the fund’s and the industry’s determination to operate with governance standards that reflect their global aspirations.
This move comes at a time when the majority of director positions within industry super fund boards are predominantly filled by representatives from unions and employer groups, raising concerns about their governance experience in managing large organizations.
Fraser says that Parkinson’s international exposure, particularly in climate change, coupled with Rowell’s regulatory acumen, are assets that position ART for its next developmental phase.
Their status brings the count of directors not affiliated with unions or employer groups to three.
Parkinson served as Australia's top bureaucrat from 2016 to 2019, overseeing the Department of Prime Minister and Cabinet during Malcolm Turnbull and Scott Morrison's tenures.
Rowell boasts over two decades at the Australian Prudential Regulation Authority, her expertise spanning superannuation and insurance.
Parkinson expressed his enthusiasm for ART's global focus and its commitment to retirees, emphasising the necessity for large superannuation funds to adopt an international outlook.
The new appointments, effective early next month, replace outgoing directors Georgina Williams and Michael Traill.