ASX chair appointed to head Australian wealth fund

CANBERRA, March 13 (Reuters) - Businessman and ASX

Group chairman David Gonski was appointed chairman of

the Australian government's sovereign wealth fund, replacing

David Murray who is retiring, Treasurer Wayne Swan said on

Tuesday.

Gonski will take over as chairman of the Future Fund, which

has more than A$90 billion of assets under management, for a

five-year term from April 3.

Gonski is also a director of Singapore Airlines Ltd

.

The treasurer also appointed Morgan Stanley Australia chief

executive Steven Harker to the Future Fund's board of guardians

for a five-year term.

"These appointments will bring a unique combination of

experience and strategic insight across business, corporate

governance and investment markets, and will position the Board

well for the opportunities and challenges ahead," Swan said in a

statement.

Swan said Gonski has indicated he will step down from the

board and as chairman of the ASX group by June 30. His position

in the Singapore airlines board will end in July.

The Future Fund was set up in 2006 to meet the government's

public service pension liabilities.

Source: http://news.yahoo.com/asx-chair-appointed-head-australian-wealth-fund-095144791.html

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