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Australia’s QSuper, Sunsuper set sights on fall merger
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Brisbane-based superannuation funds QSuper and Sunsuper will merge by September to create a A$200 billion ($153.6 billion) giant serving about 2 million participants.
Don Luke, chairman of the A$120 billion QSuper, and Bernard Reilly, CEO of the A$80 billion Sunsuper, will become chairman and CEO, respectively, of the merged entity, a joint news release said Monday.
A separate QSuper news release said QSuper CEO Michael Pennisi who had agreed to stay on beyond the October 2020 end of his contract amid the ongoing merger discussions will step down in September.
Further details on the merged organization s structure will be revealed over the coming months, the joint news release said. ....

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