12 months after exiting ASIC Press chairs Insignia super business

Former Australian Securities and Investments Commission (ASIC) commissioner, Danielle Press has been appointed as chair of Insignia Financial Trustees.

Press who is a former managing director of UBS Global Asset Management and chief executive of industry fund Equipsuper was announced as chair of the Insignia superannuation business by Insignia Financial chair, Allan Griffiths.

Press’ appointment continues a succession of changes at Insignia the most consequential of which was the appointment of new chief executive, Scott Hartley, last year.

Hartley was previously chief executive of Sunsuper.

In her time at ASIC Press had substantial oversight of the regulator’s approach to superannuation issues.

In announcing the appointment Griffiths said it highlighted Insignia Financials’ “ongoing focus on and commitment to uplifting our risk governance culture”.

For her part, Press said she genuinely believes in the power of Australia’s superannuation system and what it can deliver for members in retirement.

Press departed her commissioner role at ASIC in September last year.

Press succeeds Lindsay Smartt it the chair role.

Insignia Trustees is made up of four entities – IOOF Investment Management, NULIS Nominees, OnePath Custodians and Oasis Fund Management.

“Collectively, these entities are responsible for five Registrable Superannuation Entities (RSEs) including MLC Super, Retirement Portfolio Services, Oasis Superannuation Master Trust, AvWrap and IOOF Portfolio Service,” the Insignia announcement said.