Key Takeaways
- • Australia's Future Fund announced Tuesday that Chief Investment Officer Richard Brandweiner will succeed Raphael Arndt as CEO, effective January 1, 2027.
- • Arndt is stepping down after almost 20 years with the Future Fund, including more than six years as chief executive, to return to the private sector; he remains CEO until the end of 2026.
- • The Future Fund itself was valued at A$290 billion at June 30, and reported a 14.8% return in the latest fiscal year; the Board of Guardians manages more than A$350 billion across seven public asset funds.
- • Brandweiner, who has more than 30 years of investment management experience, will remain CIO until he assumes the CEO role, and a CIO recruitment process will begin in due course.
Summary
Australia's Future Fund on Tuesday announced the appointment of Richard Brandweiner as chief executive, effective January 1, 2027. The move follows the decision by outgoing CEO Raphael Arndt, announced in August, to return to the private sector after almost 20 years with the fund, including more than six years as chief executive. Arndt was the fund's CIO for six years before taking over the top job.
Brandweiner, the fund's current CIO, has spent more than 30 years across all asset classes in investment management. His prior roles include chief executive of Pendal Australia (formerly BT), CIO of First State Super (now Aware Super), and group executive at Perpetual Investments. In recent years he has served on a number of boards and investment committees spanning listed companies, family offices, government agencies and not-for-profits, and he sits on the global board of governors of the CFA Institute.
Future Fund Board of Guardians chair Greg Combet said Brandweiner is "an outstanding leader with deep experience in leading investment institutions." The Future Fund Board of Guardians manages more than A$350 billion across seven public asset funds, and the Future Fund itself was valued at A$290 billion at June 30, reporting a 14.8% return in the latest fiscal year. Arndt described his successor as a "wonderful leader" whose experience and judgement will position the fund well.
Brandweiner will remain CIO until he takes up the CEO role, and Arndt will stay as chief executive until the end of 2026 to support a smooth transition. The company said the appointment followed a comprehensive search conducted in accordance with Australian Public Service requirements. The recruitment process for a new CIO will commence in due course.
Brandweiner, the fund's current CIO, has spent more than 30 years across all asset classes in investment management. His prior roles include chief executive of Pendal Australia (formerly BT), CIO of First State Super (now Aware Super), and group executive at Perpetual Investments. In recent years he has served on a number of boards and investment committees spanning listed companies, family offices, government agencies and not-for-profits, and he sits on the global board of governors of the CFA Institute.
Future Fund Board of Guardians chair Greg Combet said Brandweiner is "an outstanding leader with deep experience in leading investment institutions." The Future Fund Board of Guardians manages more than A$350 billion across seven public asset funds, and the Future Fund itself was valued at A$290 billion at June 30, reporting a 14.8% return in the latest fiscal year. Arndt described his successor as a "wonderful leader" whose experience and judgement will position the fund well.
Brandweiner will remain CIO until he takes up the CEO role, and Arndt will stay as chief executive until the end of 2026 to support a smooth transition. The company said the appointment followed a comprehensive search conducted in accordance with Australian Public Service requirements. The recruitment process for a new CIO will commence in due course.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.