WTW secures REST board advisory role

Big retail industry superannuation fund, REST, has moved to further support its in-house investment capability with the appointment of Willis Towers Watson (WTW) as its asset consultant, while retaining its relationship with JANA Investment Advisers.

The REST move was announced by the chair of its Investment Committee, Michael Bargholz  who said it was intended to bolster the level of independent advice within the fund’s investment governance framework.

Importantly, WTW is being framed as advising the Board and Board Investment Committee, while JANA is being described as continuing “as the asset consultant to REST’s Investment team, providing advice and additional perspective to complement the fund’s investment expertise.”

“JANA continues to be a valued and longstanding partner of REST, and we thank them for the contribution they’ve made over the more than 30 years, particularly during the reconfiguration of our investments team and frameworks in recent years,” Bargholz said.

He said that the appointment of WTW represent the next step in strengthening the fund’s investment process.

“WTW’s strengths in governance matters, and their global experience and insights are expected to be a valuable addition to supporting the Board in its responsibilities,” Bargholz said.