Companies

Sep 26, 2011

Gottliebsen: Murray’s key to a super future

David Murray has the chance tomorrow to again put his stamp on Australian superannuation fund savings and the Australian sharemarket, Robert Gottliebsen.

David Murray has the chance tomorrow to again put his stamp on Australian superannuation fund savings and the Australian sharemarket. It was Murray, as chief executive of Commonwealth Bank, who played a big role in transforming the bank’s technology and culture and who, as chairman of the Future Fund, played a key role in the management changes at Telstra, which have enabled its shares to perform very well in the current slump.

Tomorrow, the Future Fund will effectively determine whether we can break out of the short-term attitude of so many fund managers and analysts, which has left the Australian sharemarket dominated by four banks, plus BHP and Rio Tinto. It’s a policy that has contributed to making Australian superannuation savings very volatile.

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