Today the 32,000 members of Qantas Super lost a fierce advocate, with the passing of Board Director Paul Costello.
Qantas Super Chair Anne Ward said: “Paul was a pivotal figure in the super industry, and an enormous asset to the Qantas Super Board. Even in his last weeks, Paul remained focused on serving the members of Qantas Super, attending Committee meetings and contributing strongly to matters under discussion.
Paul’s depth of experience, coupled with his passion for achieving positive investment outcomes for members, means he has left a lasting legacy for Qantas Super members. Among his many achievements as Chair of the Investment Committee, he helped develop a fully integrated investment platform, a new lifecycle option for default members, an enhanced approach to currency management and an improved retirement option.
He also helped drive the forays into timberland and agriculture, as well as the recent removal of tobacco from our investment portfolios. Paul has worked closely with Chief Investment Officer Andrew Spence and the investment team in driving these changes.
The Board and wider Qantas Super team extend their sincere condolences to Paul’s wife, Denise, and their family.”
Paul was appointed to the Trustee Board in 2014. He was Chair of the Investment Committee, and a member of the Remuneration and Insurance Committees.