AusSuper CIO paid $947k bonus

AustralianSuper/ian-silk/Mark-Delaney/remuneration/

10 August 2021
| By Jassmyn |
image
image
expand image

AustralianSuper’s executive team were paid a total of $6,091,406 including bonuses totalling $2.54 million between four of its executives during the 2019/20 financial year.

The industry superannuation fund was asked a question on notice by the House of Representative Standing Committee on Economics on what its base salary and bonuses were for the 2019/20 and 2020/21 financial year.

AustralianSuper pointed to its annual report in answering the question but noted that its 2020/21 FY salaries would be reported in its 2020/21 annual report.

The annual report said the fund’s chief investment officer and deputy chief executive, Mark Delaney, had the highest remuneration of the executives including a base salary of $733,437 and a performance payment of $947,400. Together with his superannuation payment, this gave him a total remuneration of $1,705,837 for the 2019/20 financial year.

The next best paid at the fund was its former head of equities, Innes McKeand, who had a total remuneration of $1,159,635 including a performance payment of $577,635. McKeand left the fund in March 2021.

The fund’s outgoing chief executive, Ian Silk, received a total remuneration of $1,111,234 and while he did not have a performance payment, he received non-monetary benefits totalling $17,417.

The fund’s head of mid-risk portfolios, Jason Peasley, had a total remuneration of $1,076,700 including a performance payment of $494,700.

AustralianSuper’s head of asset allocation and research, Carl Astorri, had a total remuneration of $1,038,000 including a performance payment of $519,000.

During the year, the fund had over $182 billion in assets under management.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 4 days ago

TOP PERFORMING FUNDS