David Neal, Chief Executive Officer of the Future Fund Management Agency, will shortly be leaving the organisation to take up a new career opportunity.

Mr Neal has served the Agency for nearly 13 years, as the Future Fund’s inaugural Chief Investment Officer from 2007 and as Chief Executive Officer from 2014.

Hon Peter Costello AC, Chairman of the Future Fund Board of Guardians, said:

‘David has done a terrific job first as Chief Investment Officer and then as Chief Executive Officer. He has been instrumental in designing and implementing an investment strategy that has grown the Future Fund to its current value and in building a robust and effective organisation.

‘The Fund is highly regarded as one of the world’s most successful Sovereign Wealth Funds and David has played a central role driving its performance and reputation. On behalf of the Board of Guardians I thank David for his valuable contribution to the Fund’s long-term success.  We wish him well in his new appointment.’

David Neal said:

‘It has been a privilege to contribute to the establishment and success of the Future Fund. I will be forever grateful for the unique opportunity I have had to help build Australia’s Sovereign Wealth Fund and to work with truly impressive colleagues and Board members over the last 13 years. While I am looking forward to fresh challenges, I am proud that the organisation is in great shape to continue its mission of investing for the benefit of future generations of Australians.’

Mr Neal will leave the organisation on 28 February 2020. Mr Cameron Price, General Counsel and Chief Risk Officer, will act as Chief Executive Officer from that time. The Fund will undertake a global search to recruit a new Chief Executive Officer.

ENDS

About David Neal

Mr Neal joined the Future Fund in 2007 as the organisation’s first Chief Investment Officer. In this role he established the Fund’s investment team and designed and built the Fund’s investment model, including its distinctive ‘one team’ investment approach.

Mr Neal was appointed as Chief Executive Officer of the Future Fund Management Agency in 2014 and in that role has been responsible for the leadership and strategic direction of the Agency and support to the Future Fund Board of Guardians.

Prior to joining the Future Fund, Mr Neal spent 15 years with Willis Towers Watson starting his career in the United Kingdom before establishing and leading the firm’s investment consulting business in Australia.

Mr Neal is a Director of Perth Airport, a Director of FCLT Global, a member of the MSCI Advisory Council, and a member of the ASIC External Advisory Panel.  He holds a Master of Arts (Hons) in Electronic and Structural Materials Engineering from St Edmund Hall, Oxford University. 

About Cameron Price

Mr Price joined the Future Fund in March 2014 as General Counsel. He took up the additional position of Chief Risk Officer in March 2018. Previously he was a Partner and Board member at law firm Allens Linklaters, where he had 25 years of experience in corporate law, with particular expertise in mergers and acquisitions, private equity, equity capital markets and corporate governance.

The Future Fund and other Australian public asset funds

The Future Fund Board of Guardians and Future Fund Management Agency invest the following public asset funds on behalf of the Australian government.

Funds invested at 31 December 2019

Value $m

Future Fund

168.1

Medical Research Future Fund

17.9

Aboriginal and Torres Strait Islander Land and Sea Future Fund

2.0

DisabilityCare Australia Fund

16.4

Future Drought Fund

4.0

Emergency Response Fund

4.0

TOTAL

212.4