Fund People Update

Morningstar loses two investment professionals

Morningstar Investment Management has lost their head of multi-asset portfolio management, Brad Bugg, and head of equities, Peter Bull, as part of an agreement regarding overlapping responsibilities. The roles were deemed no longer required. Chief investment officer Matt Wacher has taken over Bugg’s role, while Vito Gala, global head of systemic strategies, will take over Bull’s responsibilities.

Manager selection capabilities are being integrated into the investment team. As part of the restructuring, the director of manager research for Asia Pacific, Tim Murphy, is also leaving.

Vanguard farewells head of corporate affairs

Robin Bowerman is leaving Vanguard Australia to retire after almost two decades with the company.

Aviva appoints real assets head

David Hedalen has been appointed as head of real assets research. Hedalen joins from abrdn as a real asset analyst for Europe, where he was also the co-chair of the European Association for Investors in the Non-Listed Real Estate Vehicles Asset Level Index and a member of the IPF Research Steering Committee.

AustralianSuper leadership changes

AustralianSuper has made an announcement regarding leadership. The fund’s total portfolio management and asset allocation and research teams will be combined into one team, led by head of asset allocation, Alistair Barker. Barker is currently the head of total portfolio management.

Carl Astorri, current head of asset allocation and research, will return to the UK to take on a role as head of investments in Europe. A new role as chief liquidity officer is currently being advertised, with Joris Hillmann acting in the role until a permanent replacement is found.

The Australian equities team will become a stand-alone function, and will continue to be led by head of Australian equities, Shaun Manuell. The international equities and private equity teams will become another stand-alone group, with the head of this team yet to be appointed, and Michael Stavropoulos acting as head in the interim. Head of equities, Justin Pascoe, will leave the fund.

Pendal board members join Perpetual board

Pendal Group non-executive directors Christopher Jones, Kathryn Matthews and Ben Heap will join the Perpetual Asset Management board as part of the proposed acquisition plan. Kathryn Matthews does not intend to stand for re-election.

WTW appoints new board members

Willis Towers Watson (WTW) has appointed three new directors: Stephen Chipman, Jackie Hunt and Fredric Tomczyk. All three have a long history in the financial services industry. Current directors Brendan O’Neill and Linda Rabbitt have indicated they will not stand for re-election.

UniSuper welcomes head of business development and partnerships

Cameron Wood has been appointed head of business development and partnerships at UniSuper, moving into the role from Australian Catholic Super as part of the merger between the two funds. Wood was the marketing and business development head at Australian Catholic Superannuation.

NGS appoints senior investment operations manager

Tim Li is the new senior manager of investment operations at NGS Super, a newly-created role. Li joins the fund from Quentin Ayers as director of portfolio analytics.

Aware Super welcomes head of income assets

Sonia Baillie has moved from Macquarie Asset Management into a role as head of income assets at Aware Super.

Ausbil CEO retiring

Ross Youngman is retiring in 2023 from the chief executive role at Ausbil, after six years in the role. Mark Knight, current director and head of distribution, will take on the role in April 2023. Knight has been with the company since 2004. Knight’s replacement is yet to be found.