Future Fund names Raphael Arndt as its new chief executive

New boss will take over from July 1, having been the $162bn sovereign wealth fund’s chief investment officer since 2014.

Future Fund chairman Peter Costello said Dr Arndt was an effective leader who had proven his ability to build high-performing teams. Picture: Hollie Adams

The Future Fund has named Raphael Arndt as its new chief executive, three months after undertaking a global search to find a replacement for former CEO David Neal.

Dr Arndt, who will step into the top job on July 1, has been the $162bn sovereign wealth fund’s chief investment officer since 2014.

Commenting on the appointment, Future Fund chairman Peter Costello said Dr Arndt was an effective leader who had proven his ability to build high-performing teams.

“He has been integral to developing the way the organisation works as well as driving the development and implementation of its investment strategy.

“His knowledge of the organisation, combined with his global perspective on institutional investment, make him an outstanding leader for the Future Fund,” Mr Costello said.

Dr Arndt said he was looking forward to developing the fund’s strengths through the current investment environment.

“I am honoured to have this opportunity. Investing for the benefit of future generations of Australians, the way we strengthen the government’s long-term financial position and the support our investment activity provides to areas such as medical research have never been more important.

“We have excellent people and a resilient organisation. I’m looking forward to maintaining and developing these strengths particularly given the changes and challenges in the operating and investment environment,” he said.

Acting chief executive Cameron Price, who stepped into the role in February while the fund undertook the search to find Mr Neal’s replacement, will stay in the position until July 1, to allow Mr Arndt to focus on his investment responsibilities through the coming months, chairman Peter Costello said.

Prior to taking on the chief investment officer role, Dr Ardnt was the Future Fund’s head of infrastructure and timberland. He was previously an investment director with Hastings Funds Management and has also held infrastructure policy positions with both the private sector and the Victorian Department of Treasury and Finance.

A process for the appointment of a new chief investment officer will start in due course, the fund said.