Strategic intent in ASFA constituional changes
The Association of Superannuation Funds of Australia (ASFA) has changed its constitution to give itself scope to better cope with the continuing evolution of the superannuation industry, including growing further into the industry funds arena.
The constitutional changes, ratified at the organisation's annual conference in Melbourne last week, will not only see the appointment of an independent chairman but also the ability to vary board representation to better reflect the make-up of the superannuation industry.
The constitutional changes come at the same time as both the ASFA chairman, TAL chief executive, Jim Minto and ASFA chief executive, Pauline Vamos used their conference speeches to urge that the industry put aside short-term competitive agendas to speak with one voice.
The ASFA constitutional changes and messaging around speaking with one voice come little more than a year after the Financial Services Council (FSC) announced a policy relationship with Industry Super Australia (ISA).
That relationship, sealed between out-going FSC chief executive, John Brogden and ISA chief executive, David Whiteley, appeared to crumble soon after the Federal Coalition was elected to office in September, last year, and when the FSC began challenging the Fair Work Commission's handling of default funds under modern awards.
Brogden is leaving the FSC next month to become chief executive of the Australian Institute of Company Directors and is being replaced by former journalist, ABC radio presenter and public affairs executive at Coca Cola Amatil, Sally Loane.
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