Australia's TWUSUPER, EISS Super to explore merger : vimarsa

Australia's TWUSUPER, EISS Super to explore merger


Australia’s TWUSUPER, EISS Super to explore merger
Bloomberg
Australia's retirement plan for transportation workers, TWUSUPER, is looking at combining with energy-sector focused EISS Super.
TWUSUPER and EISS Super are exploring a potential merger, the two super funds said Wednesday.
Though talks have just begun, early signs suggest a merger would be in the interest of both funds' participants, Frank Sandy, CEO of Melbourne-based TWUSUPER, and Alexander Hutchison, CEO of Sydney-based EISS Super, said in a joint news release.
TWUSUPER, whose membership is concentrated in Australia's transport sector, and EISS Super, focused on the country's energy sector, have roughly A$6 billion ($4.6 billion) each in participants retirement assets.

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