AustralianSuper’s incoming chief executive, Paul Schroder, was approached last year to put his name forward for the top job at construction industry fund Cbus, but declined the offer after being groomed for years for the top job at Australia’s largest super fund.

The Cbus board appointed executive search specialists Korn Ferry to contact potential internal and external candidates, including Mr Schroder and Cbus chief investment officer Kristian Fok, to succeed chief executive David Atkin, who resigned from the $59 billion industry fund in January last year.