Rest announces chair departure

Yasmine Raso

Senior Journalist, Financial Newswire

2 December 2022

The Board of industry superannuation fund, Rest, has announced the exit of Independent Director and Independent Chair, Ken Marshman, with James Merlino to assume the role at the beginning of the new year.

Having been appointed as an Independent Director in 2013 and Independent Chair in 2014, Marshman said he was pleased to have directed the fund through periods of development and transformation.

“It has been a privilege to serve as the Chair of the Rest Board for the past nine years. Protecting and growing our members’ retirement savings has remained my light on the hill as has the diverse and changing needs of our members,” he said.

“I’m proud that in my time at Rest we have been able to offer greater assistance to members, ensuring as many as possible have access to the important support they need, such as financial advice, flexible insurance and market-leading digital services.

“I’d like to thank Rest members, employees, the executive leadership team and my fellow Board Directors for all they have done to support me over the years.

“James is a fantastic addition to the Rest Board and will be a tireless advocate for our members, ensuring their best financial interests continue to be at the heart of everything at Rest.”

Merlino brings two decades of politics experience with the Victorian Government to the new role, having spent time as Deputy Premier and holding several other ministerial portfolios including Sport, Recreation and Youth Affairs; Education; Mental Health; Assisting the Premier on Multicultural Affairs; and Disability, Ageing and Carers.

Rest said in a statement that Merlino’s “strong skills and experience in fiscal and economic transformation, collaborative leadership, corporate governance and stakeholder relations” will only strengthen the fund’s client offering and customer engagement.

“It’s an exciting moment to be joining Rest and I am honoured to have this opportunity to take up the position of Independent Chair of the Board and Director at one of Australia’s largest profit-to-member super funds,” Merlino said.

“Superannuation plays a vital role in the lives of all Australians and I look forward to supporting Rest members as they trust us to grow their super.

“As the industry superannuation fund representing the largest number of Australians under the age of 35, and a fund representing more than a million women, Rest has a unique perspective and role to play in supporting our members as they navigate the current economic challenges while also delivering the best possible retirement outcomes for members.

“Rest represents Australians working in a range of industries, including retail, food and logistics. These are the people who keep our community functioning. The past few years has taught us just how critical to the economy our members truly are.”