Superannuation giant the Australian Retirement Trust has boosted its governance credentials by appointing former top bureaucrat Martin Parkinson and ex-prudential watchdog chief Helen Rowell to its board.

ART chairman Andrew Fraser said the appointments – which come amid claims the $3.6 trillion retirement sector’s governance standards do not match its financial heft – showed the intent of the fund and the broader industry to operate as a global player with governance standards to match.