Rest appoints Qantas Super chief as next CIO

Rest has named former Qantas Super CEO Michael Clancy as its next chief investment officer (CIO).

Clancy’s appointment as CIO follows the resignation of Andrew Lill – Rest’s inaugural appointee to the CIO role – last October, taking up an interim role as investment chief at legalsuper.

Rest’s head of listed assets Kiran Singh and head of private markets and deputy CIO Simon Esposito stepped in as interim co-CIOs on Lill’s departure.

Rest chief executive Vicki Doyle praised the incoming Clancy “as a seasoned investment leader with the expertise to steer our more than 140-strong investment team towards these ambitions”.

“Michael is keenly aware of the imperative to deliver strong investment returns to members and he has a personal passion for super funds doing all they can to help members build confidence in their financial futures.”

Doyle further noted Clancy’s “extensive experience leading high-performing teams and fostering a culture of trust, transparency and accountability, while successfully navigating the evolving superannuation landscape and delivering competitive member outcomes”.

Clancy served more than nine years as chief of Qantas Super, which pre-acquisition counted $9 billion and 25,000 members. The fund, established for employees of Australia’s biggest airline, was acquired by Australian Retirement Trust (ART), with the pair completing their merger in March this year.

The super fund’s default growth option returned 10.1% to investors in the 12 months to June 2024, with a 10-year return of 7.3%.

Before joining Qantas Super, Clancy served more than 14 years at National Australia Bank (NAB), with his final role as executive general manager of Investment Platforms within NAB’s Wealth division.

Clancy is currently also chair of CFA Society Australia.

The incoming CIO said he was “[honoured] to be joining Rest… as the fund moves into its next phase of growth and to lead an investment team with a well-earned reputation for delivering value to members”.

One of Australia’s leading industry super funds, Rest counts more than two million members and $93 billion in funds under management (as at 31 March 2025).

Both Singh and Esposito will continue as interim co-CIOs until Clancy commences with Rest on 11 August.