The late Greg Bright

Superannuation industry body FEAL has launched a new educational scholarship in memory of its co-founder and leading industry journalist Greg Bright, who passed away in 2024.

A pioneering voice in the Australian superannuation industry, Greg conceived FEAL in 1999 with the goal of bringing together super fund executives of a rapidly growing sector to collaborate, share insights and strengthen leadership. His vision was to cultivate a generation of world-class professionals who would steward the growing retirement outcomes of working Australians.

Greg’s influence extended across both media and industry, and he always knew how to back a winner. He established industry magazine Super Review in 1986 following the Prices and Incomes Accord Mark II where the ACTU agreed to forgo a national 3% wage increase in exchange for employer-funded superannuation. It would be another six years before the Keating Government’s introduction of Australia’s Superannuation Guarantee in 1992.

It was the beginnings of a lifelong passion to support, promote and investigate an industry that today delivers meaningful retirement outcomes for millions of Australians.

A financial journalist and publisher for more than 30 years, Greg was known for his passion for communication as well as for supporting and nurturing emerging talent in the industry, acting as a mentor to many journalists and communicators who have gone on to have significant roles in the investment, super and financial services sector.

One of these was Super Review editor Philippa Honner who, with Greg’s encouragement, established financial communications and marketing firm Honner in 1997. It is fitting that Honner is the inaugural sponsor of the FEAL scholarship in Greg’s name.

About the Scholarship

Aligning with Greg’s passions the Greg Bright Scholarship for Excellence in Member Communications is focused on emerging leaders in the FEAL member funds and organisations who work in a role that involves member communications and who are passionate about making a tangible difference to how their fund / the industry communicates with members.

The winner of the Scholarship will attend the highly regarded FEAL Emerging Leaders Program run by the Melbourne Business School (MBS). The program encompasses topics around leadership, taught by some of MBS’ senior faculty, and provides the opportunity to build connections with peers across the FEAL member funds and organisations. The scholarship winner will also have the opportunity to speak about member communications at a FEAL event.

FEAL Chair, Brian Delaney, spoke of the importance to FEAL of honouring Greg Bright’s role in establishing FEAL and the appropriateness of Honner as the inaugural sponsor of the Scholarship in his name.

“Greg’s vision for the superannuation funds to come together and collaborate to deliver leadership development to their executives and senior leaders has driven FEAL’s purpose for the last 26 years. The Scholarship recognises the critical importance of member communications and will provide the opportunity for an emerging fund executive to develop their leadership skills and build their profile in the industry.

“We are delighted that Honner has chosen to take up this sponsorship and join the organisations who support leadership of the superannuation industry through their sponsorship of FEAL,.” he said.

Honner founder Philippa Honner said the decision to support the scholarship was both professional and personal.

“Greg was a huge influence on my early career. He backed me when I was starting out as a financial journalist and his steady mentoring and networking support helped give me the confidence to launch Honner at a time when being a young ‘entrepreneur’ wasn’t so fashionable.

“This scholarship reflects Greg’s joy in nurturing aspiring talent, his gift for telling great stories, and his hope that more people will get engaged and understand the value of their super. We’re incredibly proud to support this scholarship in his name.”

Brian Delaney

Future IM/Pact has announced the expansion of its wealth management partnerships with Morgan Stanley, Morgans Financial, Evans & Partners, and Canaccord Genuity joining the initiative. These firms join foundation private wealth partner, LGT Crestone, strengthening Future IM/Pact’s ability to inspire and support women and diverse talent to pursue careers in investment advice.

Future IM/Pact founder, Yolanda Beattie, said with Australia’s private wealth market projected to reach $3 trillion by 2025, the role of advisers in influencing investment decisions is increasing.

Moreover, female clients are set to be a growing proportion of this market with women forecast to inherit over 65% of the projected $5 trillion intergenerational wealth transfer by 2034. Women are also growing their own wealth at a faster rate than men, and have a preference for gender diverse advice teams1. Yet, Future IM/Pact’s Women in Wealth research found only 13% of senior advisers are women.

“Our passion has always been to bring more women into the capital allocation process, which has such a huge impact on the global economy and society. Australia’s private wealth market matches the superannuation sector for size and significance, and we’re thrilled to be enabling this career pathway for more talented women,” she said.

Five private wealth partners will provide greater scale to connect women at university and in their early-career with top wealth management firms, equipping them with the knowledge, skills and industry connections to pursue this rewarding and important career path.

Industry leader Brian Delaney joins Future IM/Pact

Former QIC executive and current chair of the Fund Executives Association Limited (FEAL), Brian Delaney, has joined Future IM/Pact as Chair of its Advisory Board. With over three decades of experience in investment management, Mr Delaney will play a pivotal role in expanding Future IM/Pact’s partner base and push into career and leadership development programs that target mid and senior level women in the investment sector.

Mr Delaney said he looked forward to drawing on his extensive experience working across a wide range of roles in Australia’s superannuation, investment and wealth management sectors – where he has witnessed first-hand the opportunities and challenges for women building front-line investment careers.

“I’ve long been frustrated with the lack of progress in improving the number of women in investment decision-making roles, and I wanted to play a more active part in the solution. Future IM/Pact’s model of bringing industry leaders together to build the pipeline from the grassroots through to more senior roles appealed as a way for me to make a tangible impact,” Mr Delaney said.

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 23^rd 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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Notes:
[1] https://www.lonsec.com.au/2024/01/19/media-release-super-funds-sail-through-the-storm-in-2023/

Katrina Bacon joins FEAL as its new CEO from 1 January, on the retirement of Joanna Davison. Katrina has extraordinary depth of expertise in, and a personal commitment to the superannuation industry. Over more than 25 years – as a consulting actuary with Towers Perrin, and for 21 years in KPMG’s Superannuation Advisory practice – she has developed a broad matrix of perspectives over the industry for which she is widely respected; assisting and advising funds, providers and employers on all aspect of superannuation.

Chair of FEAL’s board of directors Brian Delaney, said ‘I am delighted to welcome Katrina to the association. She knows FEAL and its members well, and cares deeply about what we do. Her broad industry knowledge and insights will give us a strong base for FEAL’s next stage.’

‘Joanna has transformed FEAL in her time as our CEO. The growth in our membership is testament to the way Joanna has embedded the vision of the organisation to be the leading provider of professional development and education for fund executives. She has developed the services and programs we provide, enhanced our governance, and made FEAL a place for industry leaders of today and tomorrow to collaborate, learn and develop. We all wish her well in her retirement.”

Katrina said she is ‘delighted to be taking on the FEAL CEO responsibilities, and is looking forward to supporting our members, and developing the value FEAL provides.’ 

‘I am a believer in the alignment of the not for profit sector, and am a long-time admirer of FEAL and its mission. I am genuinely excited to pick up the reins from Joanna and work with the FEAL team, Board and members. We will continue to deliver and further develop professional support and education to our Executive members, helping them return outstanding outcomes for whole generations of working Australians.’ 

Joanna said, ‘It has been a privilege to lead FEAL though the last nine years. We have made a significant contribution to the industry with our programs and services, and the opportunities for our members to learn from each other and other leaders at our conferences and forums. I am excited about the next chapter in my life.’

]]> Katrina Bacon is joining the Fund Executives Association Limited (FEAL) as its new Chief Executive Officer, with effect from 1 January 2023. Katrina replaces Joanna Davison, who leaves FEAL after nine years as its leader.

Katrina Bacon joins FEAL as its new CEO from 1 January, on the retirement of Joanna Davison. Katrina has extraordinary depth of expertise in, and a personal commitment to the superannuation industry. Over more than 25 years – as a consulting actuary with Towers Perrin, and for 21 years in KPMG’s Superannuation Advisory practice – she has developed a broad matrix of perspectives over the industry for which she is widely respected; assisting and advising funds, providers and employers on all aspect of superannuation.

Chair of FEAL’s board of directors Brian Delaney, said ‘I am delighted to welcome Katrina to the association. She knows FEAL and its members well, and cares deeply about what we do. Her broad industry knowledge and insights will give us a strong base for FEAL’s next stage.’

‘Joanna has transformed FEAL in her time as our CEO. The growth in our membership is testament to the way Joanna has embedded the vision of the organisation to be the leading provider of professional development and education for fund executives. She has developed the services and programs we provide, enhanced our governance, and made FEAL a place for industry leaders of today and tomorrow to collaborate, learn and develop. We all wish her well in her retirement.”

Katrina said she is ‘delighted to be taking on the FEAL CEO responsibilities, and is looking forward to supporting our members, and developing the value FEAL provides.’ 

‘I am a believer in the alignment of the not for profit sector, and am a long-time admirer of FEAL and its mission. I am genuinely excited to pick up the reins from Joanna and work with the FEAL team, Board and members. We will continue to deliver and further develop professional support and education to our Executive members, helping them return outstanding outcomes for whole generations of working Australians.’ 

Joanna said, ‘It has been a privilege to lead FEAL though the last nine years. We have made a significant contribution to the industry with our programs and services, and the opportunities for our members to learn from each other and other leaders at our conferences and forums. I am excited about the next chapter in my life.’

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