TREASURER Eric Ripper has announced that former Alcoa Australia managing director, Wayne Osborn, will be the inaugural chair of GESB Mutual Ltd, which will be the largest financial services company based in Western Australia, when launched on July 1. Mr Ripper said Mr Osborn was a highly respected business leader, with 30 years’ experience in large business. “Mr Osborn’s appointment is a major step forward in a set of reforms by the state government, that will allow public sector employees to choose their superannuation fund,” he said. Mr Osborn is a past chair of the Australia Business Arts Foundation (WA chapter) and sits on its national board. He is also vice-president of the Chamber of Commerce and Industry WA. GESB, the public sector superannuation fund, has about $9 billion in funds under management on behalf of more than 290,000 members. Under legislation assented to last November, GESB will become a member-owned organisation, regulated by the Australia Prudential Regulatory Authority (APRA) and the Australian Securities and Investment Commission (ASIC).
