Brendan O'Farrell joined Intrust Super as CEO in 2005 and has seen some major challenges around regulation and strong growth of the super industry. He's noted that finding the right resources to manage these changes has been a challenge in itself, but one that Intrust Super has met head on.
"Increased competition has been a major factor that the fund and the industry have had to deal with over the past decade. We've had to continually enhance our marketing and servicing resources over the years. This really evolved around 2005 when the government opened up choice and it really became a competitive market, which was an environment that was new to many funds. The skill sets have changed: once upon a time, you could be a jack-of-all-trades, but you can't do that anymore, so you have to build your team around you to ensure they have specific skills to deal with these changes."
Since taking up his position, Brendan has led internal fund changes and shifted Intrust Super's strategic focus. The changes have predominantly been driven by government regulation and continual fund growth. The government plays a large part in how our industry is shaped through regulatory change, and we need to anticipate and move quickly to capture any opportunities that presents, which can have a pretty big impact on your business from one day to the next.