August super news

4 min read
4 min read

A new name for First State Super

With already two brands under the First State Super banner, its super fund First State Super and StatePlus its advice business, the July merger with VicSuper will means a third brand.

In mid-September First State Super and StatePlus will change its brand to Aware Super.

Media Super and Cbus joint arrangement due diligence

Media Super and Cbus Super have signed a memorandum of understanding and will commence due diligence on a joint arrangement to be in operation in 2021.

Media Super oversees just under $6 billion in retirement savings for workers mostly in the printing, arts, media, and entertainment industries. Cbus is a $54 billion dollar fund primarily for workers in the building, construction, and allied sectors. The joint arrangement will potentially manage the retirement savings of over 800,000 Australians.

The partnership will see a merging of the funds’ investment and administration operations with both the Cbus Super and Media Super branding maintained.

First Nations Foundation launches Indigenous superannuation learning resource

Australia’s Indigenous financial literacy charity, First Nations Foundation, has launched an online resource to help Indigenous Australians find, manage, and grow their superannuation.

The new website IndigenousSuper.com.au has been launched to help Indigenous Australians learn about their superannuation. It provides users with a ‘five-step’ plan to take control of their super that includes sections on Knowledge, Find It, Grow It, Protect It, and Plan It.

“First Nations Foundation aims to achieve financial prosperity for Indigenous Australians, and it is well known that Indigenous Australians have lower super balances than the rest of the population, so helping our people harness the power of their superannuation is of critical importance,” FNF CEO, Phil Usher, said.

The platform has been supported by a number of superannuation funds and financial services providers, including AustralianSuper, Cbus, MLC Wealth, Suncorp, TelstraSuper and UniSuper.

HESTA calls on Government re climate change policies

HESTA is calling on the Australian Government to encourage large-scale investment in a green recovery by setting a 2050 ‘net zero’ emission reduction target and providing a clear pathway towards transitioning our economy to a low-carbon future.

In its submission to the Government’s Technology Investment Roadmap discussion paper, HESTA warns that without urgent climate action, global investors will be increasingly unwilling to invest in Australia as they manage climate change risk.

HESTA CEO Debby Blakey said institutional investors like HESTA have an important role to play in the push to de-carbonise Australia’s economy but a key risk to members was a disorderly, rushed transition.

“We are at a critical juncture – the time to choose and commit to a low-carbon economy is now. We don’t want to see a carbon-led recovery that locks in long-term emissions and increases the risk of assets becoming stranded,” Blakey said.

“Climate change represents a financial risk and leading global investors are already putting in place strategies to drive down the carbon in their portfolios and invest more in opportunities arising from the need to transition the world economy.”

CSIRO launches Australia’s first accredited face mask testing facility

Australia’s national science agency, has launched the nation’s first accredited surgical face mask testing facility in Melbourne today, to help frontline health workers in the fight against COVID-19, while supporting Australian business.

Accredited by the National Association of Testing Authorities (NATA), the new facility has the capacity to provide a rapid turnaround on surgical face mask testing, helping manufacturers fast-track the supply of masks for frontline healthcare workers.

It is also a boost for Australian companies who will not need to send masks and materials overseas for testing, saving time and money.

CSIRO chief executive Dr Larry Marshall said: “It’s inspiring to see Australian science enabling Australian businesses to supply life-saving surgical face masks to protect our frontline health care workers – yet another way science is tackling the COVID-19 pandemic.”

AAP sale formalised

The sale of Australian Associated Press to a consortium of impact investors and philanthropists has been formally completed, ending 85 years of ownership by Australia’s major publishing groups.

The national news agency will continue to provide a trusted breaking news service with a team of journalists and photographers, most of whom have joined the new organisation from the legacy business.

The AAP name and brand will be retained.

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Carmen Beverley-Smith

Executive Director - Superannuation, Life & Private Health Insurance, APRA

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Carmen joined APRA in March 2023 and holds the role of Executive Director, Life and Private Health Insurance and Superannuation.  

She has had an esteemed career in financial services, spanning over 25 years. She has held diverse leadership roles at Westpac and Commonwealth Bank of Australia, including across risk, transformation and change, product and portfolio development, and sales and service. 

Prior to joining APRA, she held the role of General Manager, Risk Transformation Delivery Integration at Westpac. This involved leading the group-wide implementation of a suite of solutions to uplift risk management capability and develop data, analytics and reporting. 

Carmen leads with a values-driven approach and a particular interest in developing and mentoring talent. 

She holds a Bachelor of Commerce and Accounting, is a certified Chartered Accountant and a Graduate of the Australian Institute of Company Directors. 

Amy C. Edmondson

Novartis Professor of Leadership and Management, Harvard Business School

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Amy C. Edmondson is the Novartis Professor of Leadership and Management at the Harvard Business School, a chair established to support the study of human interactions that lead to the creation of successful enterprises that contribute to the betterment of society.

Edmondson has been recognized by the biannual Thinkers50 global ranking of management thinkers since 2011, and most recently was ranked #1 in 2021 and 2023; she also received that organization’s Breakthrough Idea Award in 2019, and Talent Award in 2017.  She studies teaming, psychological safety, and organisational learning, and her articles have been published in numerous academic and management outlets, including Administrative Science Quarterly, Academy of Management Journal, Harvard Business Review and California Management Review. Her 2019 book, The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation and Growth (Wiley), has been translated into 15 languages. Her prior books – Teaming: How organizations learn, innovate and compete in the knowledge economy (Jossey-Bass, 2012), Teaming to Innovate (Jossey-Bass, 2013) and Extreme Teaming (Emerald, 2017) – explore teamwork in dynamic organisational environments. In Building the future: Big teaming for audacious innovation (Berrett-Koehler, 2016), she examines the challenges and opportunities of teaming across industries to build smart cities. 

Edmondson’s latest book, Right Kind of Wrong (Atria), builds on her prior work on psychological safety and teaming to provide a framework for thinking about, discussing, and practicing the science of failing well. First published in the US and the UK in September, 2023, the book is due to be translated into 24 additional languages, and was selected for the Financial Times and Schroders Best Business Book of the Year award.

Before her academic career, she was Director of Research at Pecos River Learning Centers, where she worked on transformational change in large companies. In the early 1980s, she worked as Chief Engineer for architect/inventor Buckminster Fuller, and her book A Fuller Explanation: The Synergetic Geometry of R. Buckminster Fuller (Birkauser Boston, 1987) clarifies Fuller’s mathematical contributions for a non-technical audience. Edmondson received her PhD in organisational behavior, AM in psychology, and AB in engineering and design from Harvard University.

 

Daniel Mulino MP

Assistant Treasurer and Minister for Financial Services

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Born in Brindisi, Italy, Daniel was a young child when he moved with his family to Australia. He grew up in Canberra and completed his first degrees – arts and law – at the ANU. He then completed a Master of Economics (University of Sydney) and a PhD in economics from Yale.

He lectured at Monash University, was an economic adviser in the Gillard government and was a Victorian MP from 2014 to 2018. As Parliamentary Secretary to the Treasurer of Victoria, Daniel helped deliver major infrastructure projects and developed innovative financing structures for community projects.

In 2018 he was preselected for the new federal seat of Fraser and became its first MP at the 2019 election, re-elected in 2022 and 2025. From 2022 to 2025, Daniel was chair of the House of Representatives’ Standing Economics Committee in which he chaired inquiries; economic dynamism, competition and business formation and insurers’ responses to 2022 major floods claims.

In 2025, he became the Assistant Treasurer and Minister for Financial Services.

In August 2022, Daniel published ‘Safety Net: The Future of Welfare in Australia’, which aims to explore the ways in which an insurance approach can improve the effectiveness of government service delivery.