Tuesday, April 23, 2024

New Queensland investment chair announced

Geoff Brunsdon will serve as the next Chair of Queensland Investment Corporation (QIC), Queensland Deputy Premier, Cameron Dick announced today.

“QIC plays a central role in harnessing opportunities that secure Queensland’s future prosperity,” said Mr Dick.

“From social and affordable housing to critical minerals, renewable energy and major transport infrastructure, QIC’s expertise continues to support our state’s significant growth agenda. 

“Geoff Brunsdon brings a strong skillset and experience that will ensure QIC is supported to continue navigating market challenges and driving investment that delivers for Queenslanders.

With more than 40 years’ experience in financial services and capital markets, Mr Brunsdon (pictured) currently serves as Chairman of PayPal Australia, MetLife Insurance and Sims Metals.

In 2019, he was awarded a Medal of the Order of Australia for significant service to the finance, banking and insurance sectors, and to charitable organisations.

Mr Brunsdon is a Fellow of the Financial Services Institute of Australia and Institute of Chartered Accountants, and Patron of childhood cancer support charity Redkite.

His appointment follows the retirement of incumbent Ian Martin, who leaves the role at the beginning of April after five years of service.  

“I wish outgoing Chair Ian Martin well in retirement and thank him for his outstanding leadership through periods of tremendous challenge, as well as periods of tremendous growth for QIC,” said Mr Dick.

Mr Martin said it had been a privilege to chair the QIC Board over the past five years.

“I’m proud of the way the organisation has expanded and further developed its capabilities and I am confident of QIC’s prospects for the future,” he said.

“I’m also proud of the very successful CEO transition from Damien Frawley to Kylie Rampa.

“I immensely thank our shareholding Ministers – the Premier of Queensland and the Deputy Premier, Treasurer and Minister for Trade and Investment, my fellow Board members, and the QIC team, for their support and contributions while I have been Chair.”

QIC is a government-owned investment manager driving resilient investment outcomes for 125 clients across Australia and globally, with $106 billion in assets under management.

In 2022-23, QIC delivered $4.1 billion to the State of Queensland.

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