Key Takeaways
- • The Future Fund, Australia's sovereign wealth fund, has appointed chief investment officer Richard Brandweiner as its next CEO, effective 1 January 2027.
- • Brandweiner joined the fund in July 2026 and is being promoted less than six months later, moving from the CIO role to CEO.
- • Outgoing CEO Dr Raphael Arndt, who spent almost 20 years with the organisation including more than six years as CEO, is returning to the private sector; he remains CEO until the end of 2026.
- • The fund manages a portfolio of over $350 billion for future generations of Australians, according to Board of Guardians chair Greg Combet.
- • The CIO position will be filled through a new search to begin in due course, and the appointment followed a search process conducted under Australian Public Service requirements.
Summary
The Future Fund has named chief investment officer Richard Brandweiner as its new chief executive, the sovereign wealth fund announced. Brandweiner, who joined the organisation in July 2026, will remain in his current CIO role until he takes up the CEO position on 1 January 2027. The promotion comes less than six months after he joined the fund.
The appointment follows the decision of outgoing CEO Dr Raphael Arndt to return to the private sector. Arndt spent almost 20 years with the Future Fund, including more than six years as chief executive. He will continue in the role until the end of 2026 to support the transition.
Future Fund Board of Guardians chair Greg Combet described Brandweiner as "an outstanding leader with deep experience in leading investment institutions and a strong understanding of the environment in which long-term investors operate." Combet said his experience would be important as the fund continues to invest its portfolio of over $350 billion for the benefit of future generations of Australians. Combet also thanked Arndt for his "exceptional service."
Arndt welcomed the appointment, saying Brandweiner's "experience and judgement will position the Future Fund strongly for the years ahead." Brandweiner said he was privileged to lead the fund, noting its "strong foundations and a depth of talent," and pledged to continue delivering long-term investment returns in a rapidly changing investment environment.
The fund confirmed the appointment followed a search process conducted in accordance with Australian Public Service requirements. A search for a new CIO will begin in due course.
The appointment follows the decision of outgoing CEO Dr Raphael Arndt to return to the private sector. Arndt spent almost 20 years with the Future Fund, including more than six years as chief executive. He will continue in the role until the end of 2026 to support the transition.
Future Fund Board of Guardians chair Greg Combet described Brandweiner as "an outstanding leader with deep experience in leading investment institutions and a strong understanding of the environment in which long-term investors operate." Combet said his experience would be important as the fund continues to invest its portfolio of over $350 billion for the benefit of future generations of Australians. Combet also thanked Arndt for his "exceptional service."
Arndt welcomed the appointment, saying Brandweiner's "experience and judgement will position the Future Fund strongly for the years ahead." Brandweiner said he was privileged to lead the fund, noting its "strong foundations and a depth of talent," and pledged to continue delivering long-term investment returns in a rapidly changing investment environment.
The fund confirmed the appointment followed a search process conducted in accordance with Australian Public Service requirements. A search for a new CIO will begin in due course.
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