#099: Garry Weaven - The "Godfather of Industry Super"

By Jordan Michaelides
January 02, 2019


Garry 1

🎧 Listen now


Garry Weaven is the former Chairman & Founder of IFM Investors, former Chairman of Industry Super, and has served as Board Member or Executive for multiple organisations including ME Bank, the New Daily, Pacific Hydro & the ACTU. He’s also known as Australia’s “Godfather of Industry Super”, which is difficult to tell whether it’s a compliment or not.

Bernard Wheelahan was kind enough to introduce me to Garry when I asked who he’d recommend as a guest. He immediately called me to talk about Garry and his “pugnacious attitude” being a brilliant fit, knowing that we’d get along.

What I like about Garry is his disagreeable attitude. It makes me realise that my own nature of cutting through corporate crap - and being “pugnacious” as Bernard calls it - is a useful trait to hold in life.

He has the unique perspective sitting between both Labor (as a former Unionist) and Capital (as a passionate Economist and Fund Manager). The size of the industry super movement and Fund Managers like IFM Investors is incredible considering that the industry only really kicked off in the mid-nineties. A testament to a career and life well spent.

This was a great episode from an industry stalwart that covered:

  • Being the “Godfather of superannuation”

  • The union movement

  • Tax policy

  • What is super, and why is it important?

  • The Royal Commission

  • The business of funds management

  • Infrastructure interests

  • Energy policy

  • Nearing retirement & what he’s excited for






SHOW NOTES

01:20 - Introduction

04:42 - Being the “Godfather of superannuation”

05:55 - Future dreams as a kid

07:02 - Studying economics

08:38 - The union movement

10:41 - Lessons learnt from his parents

12:04 - Earliest memory of his childhood

13:10 - Career achievements

16:16 - Value of unions & media misrepresentation

23:12 - Tax policy

31:33 - His impact on the industry

33:36 - What is super, why is it important?

39:53 - Longevity levy

43:13 - The Royal Commission

48:40 - The business of funds management

50:38 - Infrastructure interests

56:27 - Energy policy

01:01:38 - Nearing retirement: what he’s excited for

01:06:25 - Looking back: most interesting observation

01:07:52 - Morning & evening routines

01:09:18 - A book he’d gift and why

01:10:25 - Finding middle-ground

01:10:49 - Who he thinks of when he hears “success”

01:12:37 - Best purchase under $200


MORE ABOUT GARRY


THINGS MENTIONED (in order of episode)