Cath Bowtell has quietly assumed the role of matriarch of the sprawling Labor-union aligned industry superannuation family, which manages more than $1 trillion on behalf of 13 million Australians.
Other new and emerging powerbrokers in industry super include former Labor treasurer Wayne Swan, who replaced Steve Bracks as chairman of Cbus. He is Labor’s national president and arguably has the ear of fellow Queenslander, and his former staffer, Treasurer Jim Chalmers.
Bowtell also sits on the boards of Industry Fund Services , advertising arm Industry Super Australia and struggling online publicationShe is a director of the Housing Australia Future Fund, which Labor plans to use to tap private investors such as super funds to bankroll a $10 billion affordable housing overhaul.
IFM’s footprint in property markets is also set to increase, with merger talks progressing for it to acquire ISPT to create a $233 billion real asset powerhouse. It also represents a new, more united front for industry super as Aware, ART and UniSuper come on board with the other funds which historically have been more embedded in the union and Labor movements.
The response was immediate and proves her power – Core Lithium, which was one of the 12 ASX 300 companies with no women on its board at the time, had appointed non-executive director Andrea Hall to its board within a day of the policy launching.But ultimately ACSI’s direction comes down to its board and advisory council, which is populated by the CEOs and responsible investment chiefs of its member funds.
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