Former Macquarie Executive Jim Craig Joins Future Fund Board in Strategic Move

February 27, 2025 01:30 PM AEDT | By Team Kalkine Media

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Former Macquarie Executive Jim Craig Joins Future Fund Board in Strategic Move — Image source: shutterstock

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Highlights

Jim Craig appointed to the Future Fund board for a five-year term.

Former Macquarie Bank executive with over two decades of experience.

Michael Washtel exits after a decade-long tenure.

The Australian government has appointed seasoned investment professional Jim Craig to the board of guardians for the Future Fund, the country’s sovereign wealth fund. This strategic addition is expected to bring valuable expertise to the fund’s long-term investment strategy.

Craig, a former senior executive at Macquarie Group (ASX:MQG), has an extensive background in financial markets, investments, and wealth management. He spent over 20 years at Macquarie Group (MQG), holding key leadership positions and playing a crucial role in the bank’s expansion. His experience also includes serving as an independent director and chairing the investment committee at AustralianSuper, the nation’s largest superannuation fund, from 2017 to 2021.

His appointment comes at a time when the Future Fund is navigating evolving market conditions and seeking to optimize its investment portfolio. The board of guardians is responsible for overseeing the management of the sovereign wealth fund, ensuring it delivers strong, risk-adjusted returns to support the nation’s financial stability.

Craig’s addition coincides with the departure of long-serving board member Michael Washtel, who steps down after a decade of service. Washtel has played a pivotal role in shaping the fund’s investment strategies, contributing to its steady growth and resilience amid market fluctuations.

The Future Fund, established in 2006, manages a diverse portfolio spanning equities, infrastructure, private equity, and alternative assets. As global economic landscapes continue to shift, Craig’s deep industry knowledge and experience in asset management are expected to strengthen the fund’s strategic direction.

With this leadership transition, the Future Fund aims to maintain its strong performance while adapting to new opportunities in domestic and global markets. Craig’s expertise in institutional investments and market dynamics will likely support the fund’s ongoing efforts to achieve long-term financial sustainability.

His appointment underscores the government’s commitment to bringing in seasoned professionals to oversee critical investment decisions that impact the nation’s economic future. As the fund continues to evolve, Craig’s influence will be closely watched by investors and industry stakeholders alike.

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