Future Fund managing director Mark Burgess has unexpectedly resigned from the federal government investment vehicle after just over two years in the role.
Burgess joined the Future Fund from ASX-listed fund management advisory Treasury Group and held executive positions at Credit Suisse, American Express and Colonial First State prior to that.
Sally Patten of the AFR reports that he had signalled his intention to leave the Future Fund “some time ago”, but discussions had become more serious in the past 10 days.
Burgess told the Fin that he planned to return to the private sector and had received a few job approaches so far. Here’s what he said:
My career has been about building and fixing businesses. I like fixing underperforming asset management groups. I like the value-add.
I appreciate the support I have received from the board and my colleagues in the agency and the areas that we have been able to develop in my time with the fund.
With recent strong performance and the fund now fully invested, I have decided to return to the private sector to bring my experience to that field.
There’s more on the Fin.
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