HESTA Appoints New Advisers to Board Committees
The superannuation fund has added external expertise to its committee structure to better support member engagement.
Updated on Oct. 22, 2026 in People
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HESTA has appointed Heather Gray as an external adviser to its member service committee and Sean Carmody to its board risk committee. These additions aim to bring fresh external perspectives to the fund's internal governance and strategic operations.
Why it matters
By integrating independent industry experts into key board committees, HESTA seeks to strengthen its oversight and enhance the support provided to its members. This move reflects a broader trend of institutional funds prioritizing external advisory roles to navigate complex regulatory and service environments.
Heather Gray brings six years of experience from her tenure as lead ombudsman for superannuation at the Australian Financial Complaints Authority. The fund also maintains established external advisers on its finance and investment committees.
The players
HESTA
HESTA is a major Australian superannuation fund that provides retirement and financial services to workers in the health and community services sector.
Heather Gray
Heather Gray is an experienced legal and financial professional who previously served as the lead ombudsman for superannuation at the Australian Financial Complaints Authority.
Sean Carmody
Sean Carmody is a financial sector executive who has held senior positions within the Australian Prudential Regulation Authority and the banking group Westpac.
The details
The appointments of Gray and Carmody are part of a wider effort by HESTA to bolster its board committees with experienced leadership from major financial and regulatory institutions. Gray joins the team with a background as a partner at Allens and Hall & Wilcox, while Carmody brings experience from senior roles at the Australian Prudential Regulation Authority and Westpac.
Timeline
22 October 2026: HESTA officially announced the appointments of Gray and Carmody.
Market Landscape
The move aligns with the Australian Prudential Regulation Authority governance standards by increasing independent oversight on board-level committees. This strategy helps the fund maintain competitive standards in a market increasingly focused on institutional accountability.
These appointments ensure that members have oversight from professionals with deep regulatory experience in superannuation. For the average member, this governance layer serves to strengthen the fund's management and long-term service stability.
The takeaway
Appointing external advisers allows superannuation funds to incorporate specialized industry knowledge that may not be present on the main board. Members can expect this governance structure to provide a more rigorous review of fund policies and service standards.
Further reading
For more information on leadership changes in the financial sector, visit the Australia People section.
Source note: This article includes information reported by Financial Standard.
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