Merged fund confirmed to take on CareSuper name

The merger between CareSuper and Spirit Super will come into effect from 1 November, with the fund to take on the CareSuper name and fall under a new combined leadership structure.

Current CareSuper Chair, Linda Scott, has been appointed Chair of the merged fund, and Jason Murray, current CEO of Spirit Super, has been appointed CEO of the merged fund.

Scott said the combined leadership team brings experience from overseeing both funds and their respective members to form a “shared vision” that will now provide for over 550,000 members with approximately $52 billion in funds under management (FUM).

“CareSuper and Spirit Super are profit-to-member Industry Funds with a deep commitment to helping our members save for their retirement. Our intention to merge the two funds aims to deliver even better benefits for our members that can be achieved by scale,” she said.

“The existing Spirit Super and CareSuper teams have much to be proud of in getting their respective funds to this point. With the merger now closer, I’m pleased to confirm some more details.

“It is intended that the merger will take effect on 1 November 2024 and for the fund to be called CareSuper.

“While this is a true merger of equals, both funds decided it was in the best interests of members to call the fund CareSuper to take advantage of strong recognition for the name, which has been in the market since 1986.

“Elements of the Spirit Super brand identity will be retained to highlight our shared national heritage and member focus, including Spirit Super’s distinctive logo which enjoys strong and positive recognition amongst its membership.”

The executive leadership team to commence in the new roles at the merged fund from 1 November include:

• Will Sadler, Chief Risk Officer (currently at Spirit Super)
• Sam Horskins, Chief Financial Officer (currently at CareSuper)
• Ningning Lyons, Chief Strategy Officer (currently at Spirit Super)
• Suzanne Branton, Chief Investment Officer (currently at CareSuper)
• Kathleen Crawford, Chief Operating Officer (currently at Spirit Super)
• Robyn Judd, Chief People Officer (currently at Spirit Super)
• Jean-Luc Ambrosi, Chief Member Officer (currently at CareSuper)
• Simon Reiter, Chief Technology Officer (to join from Cbus Property)

“I’m proud to have been chosen to lead a combined fund which will have a laser focus on our members and delivering them great value and excellent customer service. While right now is business as usual for both funds, we are on track to formally come together as the new fund on 1 November 2024,” Scott said.

“Members and stakeholders will be kept informed as the merger progresses. We’re moving forward confidently to deliver even greater products, services and experiences for our collective membership.”