Kate Farrar, CEO of Brighter Super, named FEAL Fund Executive of the Year
Kate Farrar
Kate Farrar, CEO of Brighter Super, is the 2024 Fund Executive Association Limited (FEAL) Fund Executive of the Year.
Last night at the FEAL Members’ Dinner in Melbourne, Ms Farrar was announced as the award recipient for demonstrating exceptional vision, drive and courage in her leadership of Brighter Super during periods of transformation and growth for the fund.
The annual award, now in its 23rd year, honours a superannuation fund executive who has made an outstanding contribution to their fund and the super industry. The award recognises and fosters innovation and the development of strong, skilled executives in a continuously changing environment. The recipient receives an education grant of $30,000 sponsored by QIC to undertake an executive education program at an international business school of their choosing.
FEAL Chairperson Brian Delaney said Ms Farrar’s leadership of Brighter Super was reflected in the outstanding achievements of her team and the fund for the benefit of its members.
‘As CEO of Brighter Super, Kate embarked on a strategic plan over several years that was aimed at expanding the fund and enhancing member services, which led to an increase in both membership and the fund’s assets,’ Mr Delaney said.
‘After completing two mergers, including the first acquisition of a retail fund by an industry fund, she has introduced a unique ’boutique at scale’ model to achieve organic growth and benefits for Brighter Super members. Leveraging technological efficiencies post the mergers has enabled Brighter Super to deliver additional value to their members. Benefits such as an adviser portal to support 1,300 independent financial advisers for personalised advice, reduced member fees for some members by up to 70%, and improved investment returns, ranking in the top five for industry funds in FY23[1].
‘Her commitment to innovation, high-quality services, and cost reduction has supported a promising future for the fund and tangible benefits for its members.’ Mr Delaney said.
In accepting her award, Kate Farrar said, ‘It’s a tremendous endorsement of the strategy and work of the team at Brighter Super, who have tirelessly delivered on our program of transformation and growth, realising the benefits of our mergers for our members. Delivering strong performance, low fees and personal advice and support to help our members retire with confidence.’
This year, QIC took on sponsorship of the FEAL Fund Executive of the Year Award from T.Rowe Price. QIC has been a sponsor of FEAL since 2013, but this is the first year that it has sponsored Fund Executive of the Year.
Kylie Rampa, CEO at QIC, the award’s sponsor, added, ‘As the proud sponsor of the FEAL Fund Executive of the Year Award, we congratulate Kate on receiving this honour in recognition of her dedication to providing excellent service to members and contributing to innovation in the super industry more broadly. Her leadership embodies the spirit of the award.’
FEAL has also recently welcomed sponsorship from AIA Australia for the Michael Dwyer Leadership Scholarship, which was awarded last night at the Members’ Dinner to Mark Lyons, Chief Capability Officer, at Care Super and Iress for the MBS Masters Program Scholarship, which was awarded to Alana Scheiffers, General Counsel, at Commonwealth Superannuation Corporation. Perpetual previously sponsored the Michael Dwyer Leadership Scholarship and QIC sponsored the MBS Masters Program Scholarship.
In thanking FEAL’s sponsors, FEAL CEO Katrina Bacon said, ‘The generosity of our current and previous sponsors enables us to support and highlight the positive contribution that super fund leaders make to their memberships and the industry more broadly, and we are very grateful for their support.’
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