ART chief executive awarded FEAL honour

Yasmine Raso

Senior Journalist

7 August 2023

Australian Retirement Trust (ART) chief executive, Bernard Reilly, has been named as the recipient of the Fund Executive Association Limited’s (FEAL’s) 2023 Fund Executive of the Year award.

Reilly, the 22^nd recipient of the award, was recognised in particular for his strategic planning and responsibility in orchestrating the merger between Sunsuper and QSuper to establish ART in 2022, which ART Chair, Andrew Fraser, called “the biggest and most complex merger in Australian superannuation history”.

“By recognising outstanding leadership in super we aim to build individual capability and increase confidence in our retirement savings system. This ultimately improves retirement outcomes for all Australians with super,” FEAL Chairperson, Brian Delaney, said.

“Bernard’s leadership has taken two already strong funds that were locally focussed through a complex and high-stakes merger process to create a fund that now ranks as one of the largest pension funds.”

The merger coordinated by Reilly involved over 2,500 team members, the generation and implementation of a new investment plan and enterprise strategy and promotion of a new brand, resulting in over $240 billion in retirement savings under administration for 2.2 million members.

“The merger of these two funds brought many challenges owing to their significant size, distinct histories, different operating models, and diverse member profiles, all compounded by the backdrop of the COVID-19 pandemic,” Fraser said.

“Amidst this challenging environment, Bern demonstrated exceptional leadership by adeptly navigating the complexities and successfully launching ART. Despite the hurdles of evolving work practices, geopolitical tensions, and natural disasters, such as the devastating Brisbane floods, Bern’s resilience and competence prevailed, resulting in the successful launch of ART.

“Bern’s selection as CEO for the merged organisation reflected his exceptional investment and risk governance leadership credentials. He brings an in-depth understanding of global asset management and broad strategic experience in superannuation, funds management and enterprise transformation.”

Reilly will receive a $30,000 education grant sponsored by T. Rowe Price as part of the award.