Following last week’s announcement of ETSL’s appointment as superannuation trustee for AMP Life superannuation funds, Equity Trustees is fast becoming recognised as the leading provider of superannuation trustee services in Australia.

Managing Director, Mick O’Brien said: “George is highly-regarded as a leader in the superannuation industry. Most recently he was appointed interim CIO of Rest to assist the $57bn fund through restructuring its investment governance framework, but his association goes back to 1997 when he established Super Investment Management (SIM) to act as a wholly owned arms-length investment manager of Rest which at the time had assets of $1.3bn.”

Prior to the establishment of SIM, Mr Zielinski held roles with VFMC (Victorian Funds Management Corp) and SECV Super (now known as EquipSuper). Between 1985 and 1995 while in the electricity sector, he played an integral role in the creation of five electricity distribution businesses following the restructure of the SECV.

“The role of a skilled superannuation trustee is critical to a robust, secure superannuation system and requires leaders who understand the dynamics of investment and member outcomes and the technical complexities of governance and regulation,” said Tony Lally, Chairman of both Boards.

“Recent market volatility and the impacts of COVID-19, including unprecedented numbers of people accessing part of their superannuation early, alongside an inherently complex regulatory environment means that now more than ever, specialist superannuation trustee experience is essential,” Mr Lally said.

George Zielinski joins fellow independent directors Paul Rogan (ETSL Board only), Sue Everingham, Ellis Varejes and Tony Lally (Chairman), and executive directors Mark Blair (Executive General Manager, Superannuation Trustee Office) and Mick O’Brien (Managing Director, Equity Trustees) on both Boards.

“We congratulate George on his appointment and look forward to his contribution as we continue to focus on securing members’ interests,” concluded Mr Lally.

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Equity Trustees’ Managing Director, Mick O’Brien said: “Paul has excellent experience and qualifications – the right mix of capability for a Board which has responsibility for more than $8bn of funds under supervision for nearly 230,000 superannuation members.”

Paul is a senior financial services executive with a proven track record for delivering results having successfully managed businesses through rapid growth phases and complex change. He held senior roles at Challenger Limited, National Australia Group (Wealth Management), Lendlease / MLC and the NRMA Building Society. In addition, he has more than 25 years’ experience in serving on entity boards and industry groups.

“The role of a specialist superannuation trustee is essential to the integrity of our superannuation system which maintains millions of Australians in retirement,” said Tony Lally, Chairman, ETSL Board.

“Members must have confidence in the superannuation trustee responsible for their fund so they can trust that their interests are being properly looked after – and part of that is engaging the best expertise on the Board of our market leading specialist trustee business.”

Paul Rogan joins Sue Everingham, who was appointed in February 2019, fellow independent directors Catherine Robson, Ellis Varejes and Tony Lally (Chairman), and executive directors Mark Blair (Executive General Manager, Superannuation Trustee Office) and Mick O’Brien (Managing Director, Equity Trustees) on the ETSL Board.

“Equity Trustees congratulates Paul on his appointment and look forward to his contribution as we continue to raise the standard in securing members’ interests,” concluded Mr Lally.

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“In an increasingly heightened risk environment, where demand for our specialist trustee services is increasing, Equity Trustees continues to appoint the most experienced, highly skilled people to ensure we can carry out our trustee obligations to the highest standards,” said Tony Lally, Chairman, ETSL Board.

Equity Trustees’ Managing Director, Mick O’Brien said: “Sue has outstanding credentials for this appointment, as a lawyer who practices in superannuation, investments and financial services law, with specific experience in the unique area of superannuation trusteeship and more than 25 years’ experience at executive management and Board level.”

Mr O’Brien added that this appointment follows a series of senior appointments which play an integral part of the superannuation trustee service area of the business, including David Warren (senior client manager) and Owen Brailsfordas Chief Risk Officer.

Sue joins fellow independent directors Catherine Robson, Ellis Varejes and Tony Lally (Chairman), along with executive directors Mark Blair (Executive General Manager, Superannuation Trustee Office) and Mick O’Brien.

Sue was the Head of the Office of Trustee, Wealth Management Division at the Commonwealth Bank, and is currently a consultant with law firm Norton Rose Fulbright. She has held senior positions in the tax, investments and superannuation practices areas of a number of leading national law firms as well as roles with BT Financial Group, Ashurst, Mercer, Hunt and Hunt, Malleson Stephen Jacques (now King and Wood Mallesons) and the ATO.

Sue is currently a non executive director of Hannover Life Re Australasia Limited and Destination Southern NSW Ltd. She was previously a non executive director of the Commonwealth Bank Group Super Fund, where she was also chair of the Risk and Audit Committee (2010 – 2013).

She holds a Masters of Taxation (LLM), Bachelor of Economics and Law and is an admitted solicitor of the Supreme Court of NSW and ACT, and admitted barrister of the Supreme Court of the ACT. Sue is a qualified CPA and graduate of the Australian Institute of Company Directors.

“Sue joins a team proud to be entrusted with the responsibility and oversight of so many superannuation funds where Equity Trustees has been chosen as an independent trustee to look out for member interests. We congratulate Sue on her appointment and look forward to working with her on the ETSL Board,” Mr Lally concluded.

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Equity Trustees is Australia’s leading specialist trustee company and operates The Executive Superannuation Fund. Most recently it entered into an alliance with Aon which will create a $5.2 billion superannuation partnership, confirming its place as the leading provider of the outsourced trustee model for Australia’s rapidly growing superannuation market.

With decades of experience in the superannuation industry, as well as funds management in Australia and internationally Mr Lally has the experience and expertise to help the Equity Trustees’ Superannuation Trustee business to consolidate its leading position.

“Mr Lally brings excellent expertise and experience in areas including life insurance, funds management, strategy development, sales and marketing, financial management, superannuation, risk management and financial planning in Australia and internationally. We congratulate him on his appointment and look forward to working with him to building and strengthening our superannuation trustee business,” said Mick O’Brien, Managing Director, Equity Trustees.

“Appointing a specialist trustee is fast becoming an attractive option in the superannuation funds market. With our outsourced service model, organisations retain all of their commercial interests while providing assurance to their members that there is independent oversight of the funds they have trusted to be invested wisely for their retirement.

“The issue of independence is especially being highlighted with the current Royal Commission examining just what it means to have independence in decision making and what constitutes a conflict in that process. Equity Trustees was established to be an independent, specialist trustee 130 years and our purpose remains just as relevant today.”

Mr Lally’s current appointments include Self Wealth Ltd (Chair) and the Cycling Australia Coaching Commission, and previously included the International Centre for Pensions Management (ICPM), Association of Superannuation Funds of Australia (ASFA), Deutsche Asset Management and Commonwealth Life Ltd, among others.

Originally an actuary, Mr Lally was CEO of Sunsuper until 2013 and led the company through a period of transformation, more than doubling FUM during his tenure.
Mr Lally joins independent directors Catherine Robson and Ellis Varejes on the Board, which also includes Mr O’Brien and General Manager of the Superannuation Trustee business, Mark Blair.

“I take this opportunity to thank the outgoing chair Mr Crocker for 12 years of service. We have benefited greatly from his experience. He was part of the industry during its key formative years and through the period before it became such a significant part of the financial industry landscape, and had a long and successful career which included the AMP Society and Tower Perrin. Since retirement, he served on numerous boards in the financial services and superannuation industries,” Mr O’Brien said.

“Mr Lally will admirably follow in the footsteps of Mr Crocker. We are very fortunate to attract experience of this calibre and quality to our Board,” concluded Mr O’Brien.
The appointment is effective this month (1 June).

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