ASX chair appointed to head Australian wealth fund
CANBERRA, March 13
CANBERRA, March 13 (Reuters) - Businessman and ASX Group chairman David Gonski was appointed chairman of the Australian government's sovereign wealth fund, replacing David Murray who is retiring, Treasurer Wayne Swan said on Tuesday.
Gonski will take over as chairman of the Future Fund, which has more than A$90 billion of assets under management, for a five-year term from April 3.
Gonski is also a director of Singapore Airlines Ltd .
The treasurer also appointed Morgan Stanley Australia chief executive Steven Harker to the Future Fund's board of guardians for a five-year term.
"These appointments will bring a unique combination of experience and strategic insight across business, corporate governance and investment markets, and will position the Board well for the opportunities and challenges ahead," Swan said in a statement.
Swan said Gonski has indicated he will step down from the board and as chairman of the ASX group by June 30. His position in the Singapore airlines board will end in July.
The Future Fund was set up in 2006 to meet the government's public service pension liabilities.