GOVERNANCE
The Investment Manager – IBA Asset Management
IBA Asset Management Pty Ltd is the Investment Manager of the IPF and I-REIT. It has been appointed by the Trustee to:
- set the overall strategic direction and investment strategies of the Funds, including their investment objectives, risk tolerance and the strategic asset allocations;
- exercise oversight of the Funds and monitor their performance;
- choose, monitor the performance of and, if necessary, replace the Investment Consultant to the IPF; and
- provide general financial product advice to the Trustee on matters relating to the management of the Funds.
The Investment Manager is a wholly owned subsidiary of IBA. It has a majority of independent board members and an independent chairperson. The board brings significant experience in investment, governance and Indigenous affairs. Biographies for each director are set out below.
IBAAM Board of Directors
Dr Doug McTaggart
Chair and Non-Executive Director
Dr. McTaggart is an independent non-executive director. He is the current Chair of the Lottery Corporation having recently retired from the board of the Suncorp Group, and its NZ subsidiaries. His previous appointments have included Chair of Spark Infrastructure and SunCentral Maroochydore. He was previously Chair of QIMR Berghofer Institute of Medical Research and a director of UGL. He was a member of the Prime Minister’s Expert Advisory Panel on the Reform of the Federation and has advised the NSW and NT governments on economic development.
Dr. McTaggart has extensive experience in competition policy, being on the National Competition Council for 12 years and a founding member of the COAG Reform Council. He has also worked with the Indigenous Land and Sea Corporation on investment strategy and Indigenous Business Australia on mortgage funding. He was Chair of the Queensland Public Service Commission (2012-2015) and was a Commissioner on the Queensland Independent Commission of Audit. In June 2012, Dr. McTaggart retired after 14 years as CEO of the Queensland Investment Corporation.
Prior to this appointment, Dr. McTaggart held roles including Professor of Economics and Associate Dean at Bond University (1989-1996), and then Under Treasurer, Queensland Department of Treasury (1996-1998). He was a member of the Council of Australian Governments (COAG) Reform Council (2007-2013) and Councillor on the National Competition Council (NCC) (2000-2013).
Dr. McTaggart has extensive experience in competition policy, being on the National Competition Council for 12 years and a founding member of the COAG Reform Council. He has also worked with the Indigenous Land and Sea Corporation on investment strategy and Indigenous Business Australia on mortgage funding. He was Chair of the Queensland Public Service Commission (2012-2015) and was a Commissioner on the Queensland Independent Commission of Audit. In June 2012, Dr. McTaggart retired after 14 years as CEO of the Queensland Investment Corporation.
Prior to this appointment, Dr. McTaggart held roles including Professor of Economics and Associate Dean at Bond University (1989-1996), and then Under Treasurer, Queensland Department of Treasury (1996-1998). He was a member of the Council of Australian Governments (COAG) Reform Council (2007-2013) and Councillor on the National Competition Council (NCC) (2000-2013).
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Rhea Diacopoulos
Non-Executive Director
Ms Diacopoulos is a Macquarie Group executive currently overseeing the legal and governance function for the Asia Pacific region of Macquarie Asset Management’s Real Assets business.
She has held additional legal roles across the Macquarie Group, including within Macquarie Capital and the Financial Management Group. She is a practising Australian lawyer with over 25 years of legal experience including 20 years’ experience in the financial services industry, working across a broad spectrum of transactions and industry sectors.
Ms Diacopoulos's experience includes fund raising (including equity & debt capital markets), project finance, local and cross border public and private mergers and acquisitions, fund establishment & governance and general corporate law.
Prior to joining Macquarie, Ms Diacopoulos worked as a senior lawyer for Australian law firm, Clayton Utz in their Corporate Advisory/Mergers & Acquisitions team. She holds Bachelor of Arts and Bachelor of Laws degrees from the Australian National University.
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John Dillon
Non-Executive Director
Mr Dillon is a senior property professional with over 30 years’ experience across property markets including the office, industrial, retail and healthcare sectors.
He has held senior fund management, asset management, valuation and advisory roles with Dexus, Lend Lease, Colonial First State Global Asset Management and Jones Lang LaSalle and is experienced with major asset acquisition, divestment, development projects and lease negotiations.
He holds an Associate Diploma in Valuation from RMIT and a Diploma of Applied Finance and Investment from the Securities Institute of Australia. He is a member of the Australian Property Institute and a member of the Royal Institute of Chartered Surveyors.
He has held senior fund management, asset management, valuation and advisory roles with Dexus, Lend Lease, Colonial First State Global Asset Management and Jones Lang LaSalle and is experienced with major asset acquisition, divestment, development projects and lease negotiations.
He holds an Associate Diploma in Valuation from RMIT and a Diploma of Applied Finance and Investment from the Securities Institute of Australia. He is a member of the Australian Property Institute and a member of the Royal Institute of Chartered Surveyors.
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Bronwyn Dodd
Non-Executive Director
Ms Dodd is a proud Ngarrindjeri woman from South Australia, striving to make a difference for her people and the wider community.
She currently holds the role of National General Manager for Indigenous Banking at Westpac, and is an active community member as a non-executive director on the board of the Cancer Council SA.
Ms Dodd has an extensive background in leading large front-line distribution, with over 10 years banking experience across SME, Commercial and Agribusiness, driving strategy for customer and revenue growth. Prior to her appointment at Westpac, Bronwyn was the Executive Director, Customers and Services for the South Australian Housing Authority, where she lead the execution and operational delivery of the Authority's housing and tenant management agenda. Preceding this, Bronwyn spent over a decade within the Public and Private Health Sector, leading corporate finance and HR functions across medical and operational functions.
Ms Dodd holds an MBA from the University of Adelaide, has completed the Australian Company Directors course and is currently undertaking a Graduate Diploma of Psychology which she intends to utilise by giving back to her community.
She currently holds the role of National General Manager for Indigenous Banking at Westpac, and is an active community member as a non-executive director on the board of the Cancer Council SA.
Ms Dodd has an extensive background in leading large front-line distribution, with over 10 years banking experience across SME, Commercial and Agribusiness, driving strategy for customer and revenue growth. Prior to her appointment at Westpac, Bronwyn was the Executive Director, Customers and Services for the South Australian Housing Authority, where she lead the execution and operational delivery of the Authority's housing and tenant management agenda. Preceding this, Bronwyn spent over a decade within the Public and Private Health Sector, leading corporate finance and HR functions across medical and operational functions.
Ms Dodd holds an MBA from the University of Adelaide, has completed the Australian Company Directors course and is currently undertaking a Graduate Diploma of Psychology which she intends to utilise by giving back to her community.
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David Ross
Non-Executive Director
Mr Ross was born in Alice Springs and is of Arrernte/Kayteye descent. He joined the Central Land Council in 1979 and undertook an Associate Diploma in Business Management at the South Australian Institute of Technology in 1986-87.
He progressed to the position of Deputy Director in 1988 and then Director (CEO) of Central Land Council in 1989. Mr Ross was appointed to the Aboriginal and Torres Strait Islander Commission part time in 1992, then full time in 1994.
The following year he was appointed the inaugural Executive Chair of the Indigenous Land Corporation. After a four-year term as Executive Chair he returned to Alice Springs and was again appointed Director of the Central Land Council in 1999. He remained in that role until June 2019.
In addition to running one of the most respected and long-standing Aboriginal organisations in Australia, Mr Ross has played a significant role on national Indigenous issues, particularly those relating to land rights, native title, and economic development. He holds directorships on the boards of Centrefarm Aboriginal Horticulture Ltd and Centrecorp Aboriginal Investment Corporation Pty Ltd.
He progressed to the position of Deputy Director in 1988 and then Director (CEO) of Central Land Council in 1989. Mr Ross was appointed to the Aboriginal and Torres Strait Islander Commission part time in 1992, then full time in 1994.
The following year he was appointed the inaugural Executive Chair of the Indigenous Land Corporation. After a four-year term as Executive Chair he returned to Alice Springs and was again appointed Director of the Central Land Council in 1999. He remained in that role until June 2019.
In addition to running one of the most respected and long-standing Aboriginal organisations in Australia, Mr Ross has played a significant role on national Indigenous issues, particularly those relating to land rights, native title, and economic development. He holds directorships on the boards of Centrefarm Aboriginal Horticulture Ltd and Centrecorp Aboriginal Investment Corporation Pty Ltd.
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Faysal Fassi
Executive Director
Mr Fassi joined IBA in 2016 after 15 years in the small business and start-up space. He launched his first company when he was 25, and grew the business until it was acquired by a multinational company. He set-up and managed a tech business incubator backed by the World Bank before joining a telecom operator as their Customer Service Director. Faysal resumed his entrepreneurial career by co-founding several start-ups on four continents, one of them winning multiple awards in Europe.
Mr Fassi holds a Master of Economy & Finance, is a graduate of the Australian Institute for Company Directors, and attended the Stanford Executive Program for Growing Companies.
Mr Fassi holds a Master of Economy & Finance, is a graduate of the Australian Institute for Company Directors, and attended the Stanford Executive Program for Growing Companies.
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I-REIT Investment Committee Members
An investment committee has been appointed by the Trustee based on recommendations of the Investment Manager to approve matters relating to the I-REIT including:
- acquisitions and divestments;
- new leases or lease renewals that constitute 30% or more of the gross revenue of the relevant Property;
- debt finance facilities;
- material redevelopment or refurbishment of a Property; and
- certain related party transactions.
The Investment Committee currently comprises 5 members. Decisions are made by a two-thirds majority with each member having a single vote.
The members of the Investment Committee may change from time to time.
Steven Leigh
Chair and Non-Executive Member
Steven Leigh is the current Chair of the McConaghy Holdings Investment Committee, and Chair of the Indigenous Real Estate Investment Trust (I-REIT) Investment Committee. He recently retired as a non-executive Director of Scentre Group and as a member of the Board's Human Resources Committee. Mr Leigh’s career in the real estate investment management and development industry spans more than three decades. He has in depth knowledge of real estate economics and experience in retail assets.
During a 25 year career at QIC, Mr Leigh held a number of senior positions including most recently Managing Director – Global Real Estate with QIC.
His prior roles also include Managing Director of Trinity Limited and subsequently the Chief Executive Officer of the wholesale unlisted funds management business. Following LaSalle Investment Management’s acquisition of Trinity Funds Management, Mr Leigh held the position of Head of Australia for LaSalle Investment Management. He was formerly a non-executive Director of the ASX listed stapled entity, National Storage REIT. Mr Leigh is also one of the founding members of Male Champions of Change established by the Property Council of Australia. He started his career as a valuer with National Mutual Life.
Mr Leigh is a graduate of Gatton College (now part of the University of Queensland) and the Queensland University of Technology in the disciplines of real estate valuation and project management.
During a 25 year career at QIC, Mr Leigh held a number of senior positions including most recently Managing Director – Global Real Estate with QIC.
His prior roles also include Managing Director of Trinity Limited and subsequently the Chief Executive Officer of the wholesale unlisted funds management business. Following LaSalle Investment Management’s acquisition of Trinity Funds Management, Mr Leigh held the position of Head of Australia for LaSalle Investment Management. He was formerly a non-executive Director of the ASX listed stapled entity, National Storage REIT. Mr Leigh is also one of the founding members of Male Champions of Change established by the Property Council of Australia. He started his career as a valuer with National Mutual Life.
Mr Leigh is a graduate of Gatton College (now part of the University of Queensland) and the Queensland University of Technology in the disciplines of real estate valuation and project management.
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Francina Turner
Non-Executive Member
Francina Turner has developed an expansive career as a senior executive and executive director with over 30 years’ experience in real estate, emerging asset classes, investment management, finance, risk management, and corporate governance,
Ms Turner is Company Secretary of the Possability Group Limited, a national disability and care service provider. She has also held roles as a governance and risk manager for the Royal Botanic Garden and Domain Trust and investment manager for a family office. Ms Turner was the Managing Director and Company Secretary for Asia Pacific Data Centre Group (2012 to 2017), having previously worked at Stockland, Lend Lease Corporation and Macquarie Group Limited (1995-2010). At Macquarie, Ms Turner’s positions included Trust Manager for unlisted property syndications and General Manager of the listed LeisureWide Property Trust. She also has held voluntary non-executive positions for not-for-profit organisations.
Ms Turner is a graduate from the University of New South Wales (Bachelor of Commerce in Marketing and Hospitality Management) and FINSIA (Diploma of Applied Finance).
Ms Turner is Company Secretary of the Possability Group Limited, a national disability and care service provider. She has also held roles as a governance and risk manager for the Royal Botanic Garden and Domain Trust and investment manager for a family office. Ms Turner was the Managing Director and Company Secretary for Asia Pacific Data Centre Group (2012 to 2017), having previously worked at Stockland, Lend Lease Corporation and Macquarie Group Limited (1995-2010). At Macquarie, Ms Turner’s positions included Trust Manager for unlisted property syndications and General Manager of the listed LeisureWide Property Trust. She also has held voluntary non-executive positions for not-for-profit organisations.
Ms Turner is a graduate from the University of New South Wales (Bachelor of Commerce in Marketing and Hospitality Management) and FINSIA (Diploma of Applied Finance).
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Stuart Robb
Non-Executive Member
Stuart Robb is a proud Larrakia and Torres Strait Islander man with broad experience across ASX listed companies particularly in mining, energy (LNG), investment and funds management, as well as in the public sector and non-for-profit organisations. He is passionate about promoting self-management, self-sufficiency, and economic independence of Aboriginal and Torres Strait Islander people. Stuart joined Rio Tinto in 2021 and currently holds the position of Manager of Group Internal Audit Operational based in Brisbane. Stuart previously held positions in Government Relations and Procurement at Rio Tinto.
Outside of Rio Tinto, he also sits on the Investment Committee for Aboriginal Hostels Limited (AHL) and is a board member of First Nations Broadcasting (Darwin).
Stuart holds a Diploma of Investor Relations from the Australian Institute of Investor Relations (AIRA), a Master of Accounting from Bond University, a Bachelor of Business from RMIT University and has completed Melbourne Business School’s MURRA Indigenous Business Leadership program.
Outside of Rio Tinto, he also sits on the Investment Committee for Aboriginal Hostels Limited (AHL) and is a board member of First Nations Broadcasting (Darwin).
Stuart holds a Diploma of Investor Relations from the Australian Institute of Investor Relations (AIRA), a Master of Accounting from Bond University, a Bachelor of Business from RMIT University and has completed Melbourne Business School’s MURRA Indigenous Business Leadership program.
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Faysal Fassi
Executive Member
Mr Fassi joined IBA in 2016 after 15 years in the small business and start-up space. He launched his first company when he was 25, and grew the business until it was acquired by a multinational company. He set-up and managed a tech business incubator backed by the World Bank before joining a telecom operator as their Customer Service Director. Faysal resumed his entrepreneurial career by co-founding several start-ups on four continents, one of them winning multiple awards in Europe.
Mr Fassi holds a Master of Economy & Finance, is a graduate of the Australian Institute for Company Directors, and attended the Stanford Executive Program for Growing Companies.
Mr Fassi holds a Master of Economy & Finance, is a graduate of the Australian Institute for Company Directors, and attended the Stanford Executive Program for Growing Companies.
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The Trustee – One Managed Investments Funds
One Managed Investment Funds Limited (OMIFL), a subsidiary of One Investment Group Pty Ltd, is the trustee of the IPF and I-REIT. One Investment Group Pty Ltd is an independent Australian funds management business that focuses on providing responsible entity, trustee, custody and administration services to funds.