Cbus Super is pleased to announce that former Treasurer and Deputy Prime Minister Wayne Swan will take over from Steve Bracks as Board Chair in January 2022.
As Federal Treasurer, Mr Swan drove Australia's successful response to the global financial crisis. He was named Euromoney Finance Minister of the year in 2011.
Mr Bracks congratulated Mr Swan on his appointment and said that Mr Swan's leadership will be invaluable to the nation, as the superannuation sector helps finance Australia's economic recovery from the COVID-19 pandemic, "Wayne will be a champion for Cbus members, with our single-minded focus on improving their financial security in retirement."
Mr Swan said he is delighted to be taking on the role of Chair for Cbus with the Fund in such a strong position, "I'm humbled to have been chosen as the next chair of Cbus. Australia's superannuation sector is a world leading national achievement, and Cbus has been at the forefront of this success for decades.
"I pledge to work as hard as I possibly can for all Cbus members to build on the historic strength of their fund. It is because of the advocacy, agitation and sacrifice of building industry workers that Australia now has a $3.3 trillion pool of national savings.
"I'm particularly proud to be joining the Cbus board at this moment. Right now, the role of Australian superannuation is more important than ever as our nation looks to rebuild from the impact of the pandemic. Just as superannuation played a vital role in responding to the global financial crisis, so too will it play a vital role in our pandemic recovery.
"Not only does superannuation allow working Australians to capture a slice of recovery growth, it will also serve as a vital source of capital to fund the jobs of the future in the industries of the future.
"Through super, every Australian worker has a pathway to a comfortable and secure retirement. I'm excited to be able to play a part in helping them get there.
"I wish to pay special tribute to the enormous contribution of the outgoing chair, Steve Bracks. Like Steve, I hope to draw on the experience and knowledge I gained in public life – in particular my six years as Treasurer – to work with members, employers, unions, and federal and state governments."
