Thomson Geer has advised WA Local Government Superannuation (WA Super) on its merger with First State Super, soon to be renamed Aware Super.
The deal, which has been in the works since early 2020, completed at the end of July 2020 after an extensive due diligence process, which will see WA Super’s approximately 50,000 members along with $4 billion of funds under management, transferred to First State Super.
It is evident that First State Super is the right merger partner for WA Super members. From their shared values, to the similar member base, valuing financial advice, and their unwavering commitment to putting members first, members will be better off in the long-term by being part of a larger fund with substantial size and scale benefits.
WA Super Chief Executive Officer Fabian Ross said “WA Super was pleased to partner with Thomson Geer as part of the Merger Deed transaction with First State Super.”
“Having worked with Thomson Geer for a number of years now, meant that their deep understanding of our business, coupled with Mr Charaneka’s wealth of experience in the superannuation industry, ensured we had access to his trusted support and advice.”
“Mr Charaneka’s professionalism and dedication to WA Super members was integral in reaching this merger decision, resulting in the optimal outcome for WA Super members, whereby they will be better off over the long term as a result of this merger,” Mr Ross continued.
The Thomson Geer team consisted of Partners, Scott Charaneka and Stanley Drummond.