Mr Dwyer succeeds Stephen Rix, who will remain on the boards as a non-executive director. Mr Rix became chair in 2016 and has been a member of the BFMG Board and the BFML Board since 2010.
Craig Bingham, chief executive officer of Bennelong Funds Management, said Mr Dwyer’s industry knowledge and expertise will be invaluable for the business as it continues its growth strategy, both in Australia and overseas through its UK and US-based arm, BennBridge.
“Michael’s three decades in the superannuation industry, across a variety of senior roles and responsibilities, enables him to provide valuable insights to our executive team as the industry continues to evolve and mature,” he said.
Mr Bingham also paid tribute to Mr Rix, who has overseen a period of rapid growth and expansion for the business.
“The past few years have seen significant growth for Bennelong both in Australia and overseas, and Stephen’s experience in a range of investment banking, private equity and infrastructure operations has been instrumental during this time.
“We’re grateful we will continue to benefit from his experience as a non-executive director.”
Mr Dwyer has more than 30 years of experience in the financial services industry, including as chief executive officer of First State Super between 2004 and 2018. He was made a member of the Order of Australia in 2011 for service to the superannuation industry through leadership and executive roles, and to the community as a director of Australia for UNHCR (the private sector partner of the UN Refugee Agency). Two industry scholarships have been established in his name – the Aware Super Michael Dwyer Scholarship for Emerging Leaders and the FEAL Michael Dwyer Leadership Scholarship.
Mr Dwyer holds a number of other directorships, including Chair of NSW TCorp, Director of ASX-listed Iress, and Chair of Australia for UNHCR. He is a member of the ASIC Consultative Panel and a member of the Global Advisory Council for Tobacco Free Portfolios, as well as a fellow of the Australian Institute of Company Directors (AICD) and a fellow of the Association of Superannuation Funds of Australia (ASFA).