HESTA Investment Committee chair departs

Yasmine Raso

Senior Journalist, Financial Newswire

1 March 2023

The inaugural Chair of HESTA’s Investment Committee and Independent Director, Mark Burgess, has announced his departure from the super fund’s Board when his tenure comes to an end in June 2023.

Burgess was praised by both chief executive, Debby Blakey, and Chair, Nicola Roxon, for his commitment and involvement in a range of significant investment decisions for the fund, including the implementation of its first Climate Change Transition Plan which saw it become the first major Australian super fund to announce a net zero emissions target by 2050.

Burgess also contributed to an extended period of growth for the fund, including the creation of several internal teams to manage its Australian equities, fixed interest and cash allocations.

“When Mark joined us, we were appointing a new CIO and were embarking on a bold and exciting vision for the future of investments at HESTA,” Blakey said.

“Mark has been a much-valued source of insight and guidance over many years that’s supported us to keep building the capacity of our investment team to deliver strong, long-term investment performance for our more than one million members in the years ahead.”

Roxon also thanked Burgess for his leadership as the fund continues to grow its responsible investment strategy.

“As the inaugural Chair of HESTA’s Investment Committee, Mark has helped guide the realisation of our investment strategy that’s seen us continue as a leading global investor delivering strong, competitive, long-term returns for members,” she said.

“I’d like to thank Mark for his contribution that’s continued to build on the Fund’s focus on investment excellence with impact and strong track record of performance.”

HESTA also announced it is in the process of finalising the appointment of Burgess’ successor who will commence in the role from 1 July 2023 as both an Independent Director on the HESTA Board and Chair of the Investment Committee.