Future Fund Names Richard Brandweiner Chief Executive
Brandweiner, the fund's current chief investment officer, will take over as chief executive on 1 January 2027, succeeding Raphael Arndt.
Updated on Nov. 9, 2026 in People
The Future Fund Board of Guardians has appointed Richard Brandweiner as chief executive of the Future Fund, which manages a portfolio of over $350 billion. Brandweiner currently serves as the fund's chief investment officer and will remain in that role until he commences as chief executive.
Why it matters
The appointment follows Raphael Arndt's decision to return to the private sector after almost 20 years with the Future Fund, including more than six years as chief executive. The transition also opens the chief investment officer role, with recruitment to begin in due course.
The fund manages a portfolio of over $350 billion, and Brandweiner brings more than 30 years of investment management experience across all asset classes. Who will fill the chief investment officer role after Brandweiner's move has not yet been announced.
The players
Future Fund
Australia's sovereign wealth fund, established to help meet the cost of public sector superannuation liabilities.
Richard Brandweiner
Former chief executive of Pendal Australia and chief investment officer of First State Super, now appointed to lead the Future Fund.
Raphael Arndt
Outgoing chief executive of the Future Fund who spent almost 20 years with the organisation before returning to the private sector.
The details
The appointment followed a search process conducted under Australian Public Service requirements. Brandweiner previously served as chief executive of Pendal Australia (formerly BT), chief investment officer of First State Super (now Aware Super), and group executive at Perpetual Investments.
Timeline
Almost 20 years before the appointment: Arndt joins the Future Fund.
End of 2026: Arndt's tenure as chief executive concludes.
1 January 2027: Brandweiner commences as chief executive.
Market Landscape
The move elevates an internal investment executive to lead the Future Fund, continuing a pattern of leadership drawn from the fund's own ranks. Brandweiner's prior roles at Pendal, First State Super and Perpetual place him within Australia's large superannuation and funds management sector.
For Australians whose retirement savings or public sector superannuation are linked to the Future Fund, the leadership change signals continuity in investment management, given Brandweiner's long-standing role on the investment team. The timing of the new chief investment officer appointment will be a key point to watch for those tracking the fund's direction.
The takeaway
Leadership transitions at large institutional investors like the Future Fund often reflect planned succession, and the orderly handover period through the end of 2026 is designed to preserve continuity. Readers following the fund can track the chief investment officer recruitment as the next signal of strategic direction.
What happens next
Brandweiner will commence as chief executive on 1 January 2027, and recruitment for a new chief investment officer will begin in due course.
Further reading
Explore more People coverage to see how leadership changes shape Australia's major institutions.
