Current chief investment officer Penny Ransom will assume the role of chief executive investment management on July 1.

Ransom joined Lendlease in 2022 as group head of investments and was appointed chief investment officer in July 2024, with responsibility for capital allocation, as well as global capital raising and product development.

She has more than 30 years' experience across institutional real estate, transactions and investment management, including chief investment officer at Investa Property Group, and senior positions at Dexus.

Ransom's appointment follows Gabbani's decision to pursue an external opportunity which allows him to remain in Singapore with his family, Lendlease said.

He has held senior leadership roles across investment management, finance and regional segments in Australia, Asia and Europe.

Commenting, Lendlease group chief executive Tony Lombardo said Ransom is well positioned to lead its international investment management business.

"Penny has been instrumental in strengthening Lendlease's capital position and sharpening our investment strategy. She brings deep global investment management experience, strong investor relationships and a disciplined approach to driving performance," Lombardo said.

"Her appointment provides continuity and momentum as we continue to execute our strategy, deepen investor relationships and drive performance across our international investment management business.

"I would like to thank Justin for his significant contribution to Lendlease over more than two decades and wish him success for the future."

Tonya Ripley has joined from BT where she was head of national accounts. Prior to that Ripley also held roles at HUB24 and AMP.

"Tonya brings over 20-plus years experiences across wealth platforms and distribution along with a strong track record of building strategic partnerships and driving growth," Russell Investments head of distribution Australia and New Zealand Neil Rogan said.

"Her appointment reflects our continued momentum in the Australian wealth market and our focus on strengthening support for our key accounts and platform partners.

"With strong partnerships across a range of licensees and platform providers, we're delighted to have someone with the depth of relationships and experience in the wealth management space join our team and to support our growth strategy."

Commenting on her appointment, Ripley told Financial Standard she was excited to be joining the team at Russell.

"I am excited to be joining Russell Investments at a time of strong momentum for the business in the Australian wealth market," Ripley said.

"Russell Investments has a 40-year pedigree in the Australian market in designing, constructing and managing investment solutions for financial advisers, and I look forward to contributing to the next phase of growth."

Last month Russell Investments also appointed a new head of superannuation in NGS Super's Ben Facer.

Facer had been with NGS Super since 2017, having first joined as chief risk and governance officer. During his tenure he held a raft of roles, and most recently had the dual title of chief member officer and deputy chief executive.

At Russell, Facer replaces Bronwyn Yates, who is leaving the company after close to two decades. She became head of super in July 2025 after holding a variety of roles in strategy and product.

Facer brings over 30 years' experience in superannuation, with previous roles including partner at Deloitte for over five years, and close to 20 years at Mercer in Sydney, London and Singapore.

Global private equity investor Advent has appointed Patricia Cross as an operating partner for Australia and New Zealand, strengthening its regional financial services expertise as it looks to drive growth across portfolio companies.

Cross brings more than four decades of executive and board level experience spanning wealth management, asset management, institutional banking and governance. In the role, she will work closely with Advent's investment professionals and portfolio company leadership teams on strategic directions, governance and long-term value creation initiatives across the region.

Advent managing director and head of Australia and New Zealand Beau Dixon said Cross's appointment adds significant sector and governance expertise to the firm's local operations.

"Her perspective will be highly valuable to our investment professionals and portfolio company leadership teams as we continue to build our presence in the region," said Dixon.

Cross said she was joining the firm at a time of significant change across the financial services landscape.

"Financial services is a sector undergoing profound change, and I look forward to working alongside Advent's teams to help portfolio companies navigate that environment, strengthen their strategic positioning, and drive sustainable growth," Cross said.

Cross currently serves as chair of OFX and as an independent non-executive director of Transurban. She also recently completed a five-year term on the board of guardians for Australia's sovereign wealth fund, the Future Fund.

Her previous board roles include positions as Macquarie Group, National Australia Bank, AMP, Quantas Airways, Wesfarmers and Avia.

Prior to her board career, Cross held senior executive roles across seven countries with institutions including Chase Manhattan Bank, Banque Nationale de Paris, and National Australia Bank.

The appointment adds to Advents global network of more than 145 operating partners and operational advisers supporting the firm's portfolio companies.

Fiona Trafford-Walker commenced her term on May 12, and Adam Tindall will also join following the conclusion of Deborah Ralston's term in September 2026.

"These highly qualified appointees will ensure our sovereign wealth fund can continue its strong record of returns for the Australian people," Chalmers said.

Trafford-Walker is a highly experienced investment professional with over 30 years in institutional financial asset consulting and provision of institutional investment advice.

She has extensive experience in various leadership roles at Frontier Advisors.

Tindall has worked for over 35 years in the investment and real estate industries.

He has extensive global experience in portfolio, investment and asset management and corporate governance having held leadership and executive roles at AMP Capital, Macquarie Group and Lendlease.

"These appointments will complement the significant investment and corporate governance skills and experience on the board," Chalmers said.

"The government would like to take the opportunity to thank outgoing members, Patricia Cross and Deborah Ralston, for their significant contribution to the board over the past five years.

"During their tenure, the board oversaw the implementation of an updated Future Fund Investment Mandate focused on aligning the fund's investments with the nation's priorities, where it makes financial sense to do so."

In the year to 31 March 2026, following the introduction of the updated Investment Mandate, the fund made a return of over $28 billion, or 11.7%. This follows returns of 12.2% in 2024 and 8% in 2023.

The Future Fund also achieved a 10-year return of 8.6%, above the mandated target return of 7%.

"We look forward to the contribution that Trafford-Walker and Tindall will make to continuing this important work," Chalmers said.

AMP North has appointed Kristen Lennis-Harvey as head of business development and national sales manager as the platform continues expanding its adviser support and distribution capabilities.

Lennis-Harvey will report to director, platforms growth and wealth distribution Kristine Goodwin, and will lead North's national business development strategy as the platform sharpens it focus on adviser growth and client outcomes.

The appointment follows the addition of eight new business managers to North's national sales team earlier this year, reflecting AMP broader push to strengthen its footprint across the advice sector.

Goodwin said the newly created role will support advisers as it continues investing in platform capabilities and adviser partnerships.

"Everything we do at North is focused on helping adviser grow their business and deliver great outcomes for more clients," Goodwin said.

"That means working closely with advisers, understanding what they need today, and ensuring our investment in the platform supports the way advice business are evolving," said Goodwin.

Goodwin also noted Lennis-Harvey brings extensive experience building high-preforming teams and strategic partnerships that drive commercial growth.

AMP group executive, platforms Edwina Maloney said the appointment reinforced the group's commitment to investing in advisers and platform support.

"Kristen's appointment reflects our commitment to continuing to invest in North and in the people who work closely with advisers to help their businesses thrive," Maloney said.

Lennis-Harvey joins from United Health Group, where she held senior national leadership positions focused on strategic partnerships and business growth.

Prior to that, she worked at AIA Australia overseeing key client relationships and commercial negotiations.

Her earlier career included national account management positions at Zurich Australia and CommInsure.

Based in Melbourne, Xavier will focus on servicing wealth advisers and sophisticated clients across the intermediary, private wealth and family office channels, building on the group's relationships in Victoria and other regional locations.

Prior to joining Channel Capital, he was an investment specialist at UBS (previously Credit Suisse) in the global investment management division where he did research work on traditional and alternative strategies.

He was also at Lonsec Investment Research as an investment analyst and in a client-facing role at Shadforth Financial Group (Insignia Financial) previously.

"Xavier brings exactly the right attributes and mindset, including a wealth of experience in fund research and portfolio construction, and we're very pleased to have him join the team," said Luke Mandekic, co-head of distribution with the group.

"I've long admired the Channel Capital's approach and focus on creating value for advisers and their clients. I'm excited to contribute to that culture and to work closely with advisers across Victoria and regional areas," said Jeans.

Mai Platts joins the investment giant as director in client services, reporting to Barbara Whyte, head of client services and operations in Australia and New Zealand.

Platts has worked for some of the country's leading brands, including stints at Macquarie and Ironbark early in her career.

She was director - key accounts and adviser business at Betashares ETFs and prior to joining Natixis was account director, strategic accounts at Bennelong Funds Management.

"We're pleased to welcome Mai, who brings a wealth of experience, to the Natixis IM team and especially to our wholesale clients and platform partners in Australia," said Louise Watson, Country Head for Australia and New Zealand, Natixis IM.

"Her role will support the growth of the range of active ETFs and managed funds promoted by Natixis IM, leveraging the very best solutions from our global expert affiliate managers to serve the personal, and increasingly complex, needs of our clients."

Natixis works with more than 15 active fund managers under a multi-affiliate model and is ranked among the world's largest asset managers with more than $1.4 trillion assets under management.

In Australia, investors would be familiar with Natixis IM's affiliate investment managers Loomis Sayles, Vaughan Nelson, Mirova, Flexstone Partners and IML.

"I look forward to joining the Natixis IM team and continuing to provide a high standard of service to support the growth of exceptional client relationships across Australia. It's an exciting time to join the team as together, we will grow our best-in-class global solutions to our local clients," said Platts.

Mark Stephan joins as a principal asset consultant at Aequitas Investment Partners, a Melbourne-based asset consulting group for financial advisers. Founded in 2010, Aequitas manages over $8 billion in client funds and runs its own proprietary investment platforms, Aequilibrium and Altum.

On announcing his appointment, the group said that Stephan will lead their existing asset consulting relationships with dealer groups and financial planning firms, advising on portfolio construction, governance and investment strategy.

"He brings deep experience across investment consulting, portfolio management and asset research, with a strong track record supporting advisers and institutions in building multi-asset portfolios," it said in a statement.

Prior to joining Aequitas, Mark was senior investment analyst at Mutual Trust for two years and was at Vanguard Australia where he helped establish the group's inaugural Portfolio Analytics & Consulting function locally.

He has also worked at Lonsec as senior investment analyst in managed fund research, conducting research on Managed Funds, ETFs, LICs and SMAs.

Besides Stephan, Aequitas has also appointed Tea Van Ross (nee May) as head of strategy and client delivery. Ross had worked at Commonwealth Bank as senior process manager at CommSec product & customer experience.

The committee has welcomed Leanne Bradley as independent chair and David Wright as a member to provide independent governance and oversight for the upcoming platform.

Bradley brings more than 25 years of experience across investment management, asset consulting and financial services governance, with deep expertise in portfolio construction, manager research and investment governance frameworks.

She is the co-chief executive and principal of fintech solution provider Suite2Go and is a member of Granite Bay Private Wealth, Pella Funds Management, and the International Women's Development Agency.

Meanwhile, Wright co-founded Zenith Investment Partners and spent more than two decades as its chief executive. He is current head of client solutions at Pinnacle Investment Management.

Financial Standard reported last year on Pinnacle Investment Management's investment in FinCap to support the launch.

The committee will provide independent governance and oversight of the asset allocation, portfolio construction and fund selection processes underpinning the private markets platform, which is designed to give financial advisers and wholesale investors diversified exposure to private markets including private equity, private credit and real assets.

Bradley and Wright will be joined on the committee by chair Christian Ryan and head of portfolio and investment solutions Ben Davis.

Ryan said both appointments support a move to replicate a governance framework similar to those utilised by institutional investors.

"Having an independent chair with Leanne's calibre and experience, alongside David's deep expertise in investment research and manager evaluation, gives us a committee with genuine substance," Ryan said.

"As we prepare to bring the FinCap platform to market, we wanted a governance framework that reflects how institutional investors think about oversight, accountability and rigour.

"Leanne's background in investment governance and portfolio construction makes her ideally suited to chair the committee, and David's track record at Zenith speaks for itself. Their independence and combined depth of experience will be invaluable as we scale the platform."

Campbell-Blackwell brings more than 25 years' experience in software engineering and architecture, including over 15 years at Iress in senior technology leadership roles. Iress said he has played a central role in evolving the company's core platforms and improving product delivery.

He will be based in the UK with engineering teams based in all regions in which Iress operates.

Iress group chief executive and managing director Andrew Russell said: "This appointment comes at a critical time for Iress. We are focused on modernising our platforms, increasing product velocity and embedding AI in a practical, ROI-led way. Elevating the chief technology officer role reflects the importance of technology execution in delivering this next phase."

The technology platform recently partnered with global technology consultant Thoughtworks to help design data-driven features that reduce manual effort, improve adviser productivity and support new revenue opportunities for wealth providers.

Iress will implement the changes, starting with Xplan, its software offering for advisers to manage client operations.

"Iress has strong and enviable technology foundations and a clear strategy. Our focus now is on execution, modernising the platform, simplifying our technology environment and delivering high-quality outcomes for our clients," Campbell-Blackwell said.

It will also make the appointment of Sam Wall as chief executive of its APAC wealth business permanent, who has been acting in the role since February of this year. Wall previously led Iress' superannuation business, overseeing its performance and successful transition to new ownership under Apex Group.

"I'm encouraged by the support I've received from clients since stepping into the role and welcome the challenge of delivering a new AI-enabled era of Xplan to drive advice businesses forward," Wall said.

"I'm confident we are well positioned to modernise at pace and deliver better outcomes for our clients," Russell added.

"Our model is clear: strong internal leadership, supported by world-class external capability to accelerate targeted modernisation of core platforms, AI integration across client workflows and improved product delivery, speed and efficiency."

Anthony Attia of Euronext, the European bourse, will join ASX as chief executive on September 1, with previously announced interim chief Darren Yip to support the transition.

Attia brings nearly 30 years of experience across both European and US jurisdictions, including Euronext Paris, New York Stock Exchange, London Stock Exchange Group, Intercontinental Exchange, and more, specialising in the full value chain of exchange operations - from listing franchises to post-trade services including clearing, custody and settlement.

As chief executive of Euronext Paris and a member of the board of Euronext from 2014 to 2021, and most recently as Euronext global head of derivatives and post trade, Attia has led major strategic and growth initiatives while developing strong relationships with customers, regulators and market participants, the ASX said.

He also played a central role in Euronext's transformation into a leading pan-European market infrastructure group, including overseeing the development of Euronext's proprietary trading platform, Optiq, and the expansion of Euronext Clearing into a multi-asset international clearing house.

One of Attia's core responsibilities will likely focus on the revitalisation of ASX's Clearing House Electronic Sub register System (CHESS), as it looks to complete the replacement of the system by 2029 with Release 2.

The CHESS Release 1 was effective in April.

Despite Attia's global status, he shares some experience in the Asia Pacific region, currently chairing the board of Global Rate Set Systems in Auckland, New Zealand, a position he has held since June 2024.

ASX chair David Clarke said Attia's appointment follows a rigorous global selection process.

"He brings deep exchange experience coupled with a proven track record of technology-enabled transformation and a clear understanding of the responsibilities that come with leading critical market infrastructure," Clarke said.

"I am confident he will build on the momentum at ASX and support the next stage of our transformation."

Attia added: "I am delighted to join ASX at a pivotal moment in its transformation. There is so much potential, and I'm excited to meet everyone at ASX and to engage directly with key stakeholders in Australia's markets ecosystem."

"I look forward to working with the ASX boards and the executive leadership team to further strengthen ASX's role as a steward of critical market infrastructure and to position us as a leading capital markets hub in the Asia Pacific region."

The exchange has come under immense scrutiny following several technical issues last year affecting its clearing and settling system.

It was advised to have "considerable work to do" by the Reserve Bank of Australia to meet the central bank's expectations for an operator of critical market infrastructure.

To rectify the underlying issues, including governance and listing requirements, the Advisory Group on Corporate Governance was formed to replace the ASX Corporate Governance Council in October. The AGCG recently met for the third time, providing an update on the revision of its corporate governance principles.

"Having worked at the intersection of investment governance and technology, I see a clear opportunity: to apply the governance discipline of the investment program to the investment technology and data programs that serve the investment mission," Grant said.

Grant spent a decade at Future Fund managing $335 billion, most recently as executive director, investment capability and intelligence.

During his decade long tenure, he served as chief of staff to the chief investment officer and owned the governance of the investment team's technology and data program.

Grant also led a wholesale review of how the program was structured, prioritised, and held accountable, and established and chaired the Investment Technology and Data Committee - the governance body accountable for investment technology strategy.

Prior to that, Grant held roles at Hastings Funds Management and worked as energy adviser to the Commonwealth Minister for Resources and Energy.

In his new role as founder and principal of Jolly Rambler, Grant will work with Australian and global institutional asset owners to apply investment governance best practice to their technology and data programs.

"The world's leading asset owners operate their investment programs with rigorous, fit for purpose governance frameworks. Every major allocation decision is anchored to investment strategy, has a clear owner, a defined process, and accountability for outcomes," Grant said.

"Those frameworks exist for a reason; default organisational processes were never built for an investment mission, so the best asset owners built something different.

"Their technology and data programs rarely get the same treatment. Instead, they inherit procurement frameworks, project governance, budgeting cycles, business case templates - tools designed for a different purpose. Yet technology, data and AI are now core enablers of investment capability. Programs that were once peripheral are now consequential."

Speaking at the Australian Shareholders' Association 2026 Investor Conference in Melbourne last week, Clarke said succession planning is one of the most important decisions the board makes and it must have a long-term view for it.

"It's almost a proxy for the standard, the culture, the leadership style, and to a certain extent, strategy that you're looking for. So therefore, you shouldn't rush it. And fortunately, we're in a great position where we've got a very competent internal executive to fulfill that role."

The ASX has appointed group executive of markets and listings Darren Yip as interim chief executive, as the exchange continues its search for a permanent leader.

Yip will assume the role, effective May 29, after announcing in February that chief executive Helen Lofthouse would step down.

The ASX said the appointment is intended to ensure leadership continuity during the transition period, with Yip bringing more than two decades of experience across global financial markets.

Yip said his immediate priority would be maintaining operational resilience, supporting customers while continuing to deliver key strategic and technology initiatives.

On when the markets can expect the announcement of the next chief executive, Clarke said these things always take a while.

"I'm always reluctant to answer that question because I don't feel confident until the candidate that we have chosen is standing up and addressing all the employees and then I know they're going to stay," he said.

The ASX has been in the crosshairs with ASIC since last year around its questionable ability to "maintain stable, secure and resilient" market infrastructure, which were brought to the forefront due to disruptions in trading in late 2024.

In this situation, Clarke said it is important for the board to maintain consistency in language with the management team.

"You're talking to the stakeholders, whether they be shareholders, regulators or customers but the chief executive and the management team are also talking to them, so there needs to be a consistency," Clarke said.

"So, you need input into how that dialogue is being shaped."

Another important aspect is to avoid corporate language, Clarke said.

"You're speaking with those investors to actually make some form of connection. They're seeking to evaluate you through how you communicate with them and frankly make up their minds pretty quickly whether you're someone they can believe or not believe."

The company has appointed Kevin Bertoli and John Whelan as portfolio managers for RG1, replacing the departing Anselmi.

Both Bertoli and Whelan arrived from PM Capital, a subsidiary of Regal Partners from an acquisition in December 2023. They will join existing portfolio manager Herny Hill and supported by a team of approximately 30 equity analysts, Regal said.

They bring extensive global equities investing, serving as co-portfolio managers to PM Capital's global equity fund, since 2006 and 2009 respectively, and will further expand RG1's investment capability.

The investment guidelines for RG1 remain unchanged, Regal confirmed.

Meanwhile, Anselmi will depart the company. He oversaw RG1 since its IPO in September 2017, serving as an investment analyst and later as a portfolio manager.

Commenting, RG1 chair David Jones welcomed the appointments and wished Anselmi well in his future endeavours.

"We are delighted to welcome Kevin and John to the RG1 portfolio management team, recognising their deep investment experience and long tenure managing global equity strategies alongside chief investment officer Paul Moore," Jones said.

"Under Paul's stewardship, Kevin and John have meaningfully contributed to the impressive track record of PM Capital's global long/short strategies and we look forward to their contributions to RG1 going forward.

"We remain pleased with the strong investment performance delivered by Paul and the Regal team since Paul's appointment in September 2025 and extend our sincere thanks to Marco for his commitment and contribution to the company over nearly nine years in the RG1 investment team."

Irina Chinenova has joined the fund as general manager of data and insights, overseeing Rest's data analytics and intelligence capabilities across the business. She will report to chief technology and data officer Jermey Hubbard.

Chinenova brings more than two decades of experience in analytics and digital transformation, including senior leadership roles at Optus and Woolworths Group, where she led data analytics teams focused on customer and product insights.

Rest said the appointment reflects growing emphasis across the superannuation sector on using data to improve member engagement, personalisation and operational efficiency, particularly as funds invest more heavily in digital capabilities.

At the same time, the fund has appointed Abbey Pearce as general manager of tax. Pearce will oversee Rest's tax governance and compliance framework and report to chief financial officer John O'Sullivan.

Peace joins from Cbus Super, where she served as head of group tax. She previously held a director role in the superannuation tax practice at KPMG, advising super funds, sovereign wealth funds and investment managers on tax and regulatory matters.

The appointments come as large super funds continue to expand internal capability across technology, governance and regulatory compliance amid increasing scrutiny and operational complexity.

The hires reflect broader industry trends as super trends as super funds strengthen specialist capabilities in areas such as data governance, cyber security, regulatory compliance and member analytics. As funds scale and face increasing expectations around personalisation, transparency and operational resilience, executive appointments across technology and finance functions are becoming a larger strategic focus.

Taggart joins HUB24 with more than a decade of senior leadership experience across distribution, adviser engagement and strategic growth roles within financial services.

Most recently, he served as a general manager of distribution and marketing at Resolution Life, where he oversaw adviser engagement and spent more than 10 years across Zurich and OnePath in leadership positions spanning sales, strategic accounts and national distribution.

HUB24 executive general manager of platform growth Matt Willis said the appointment would support the firm's focus on strengthening relationships with advisers and improving client outcomes.

The move comes as platform providers increasingly compete on service quality and adviser support, alongside technology functionality and pricing.

Recent industry research found service remains a key driver or adviser satisfaction, with poor support frequently cited as a reason advisers switch platforms.

Taggart touched on his eagerness to contribute to the team at HUB24: "HUB24 has built a strong reputation for service, innovation and collaboration with advisers. I'm looking forward to working closely with advisers to build on the strong access and engagement advisers already have, ensuring they continue to deliver outstanding client outcomes.".

The appointment comes as HUB24 continues expanding its adviser support model through increased investment in training, service accessibility and AI-enabled tools, with the platform seeking to strengthen how advisers interact with both technology and client service teams as advice and business scales evolve.

The Melbourne-based firm has named Jason Beale as its new head of product and operations, with a focus on expanding the group's institutional base.

Beale joined last month after spending four years as head of product at Tokyo-based SBI Digital Asset Holdings, the tokenisation and crypto division of SBI and prior to that, five years as solutions architect and technical lead at the Singapore Stock Exchange. 

Before carving a career in fintech and digital assets, Beale was at UBS, climbing the ranks from analyst developer to director in fixed income, rates and credit IT. 

AUDC's second senior hire is Hamish Crittenden as chief technology officer. 

Prior to AUDC, Crittenden was the chief architect and head of product at FSCO, where he had spent time building and commercialising fintech and blockchain platforms.

"He will lead the next phase of AUDC's technology evolution, scaling an already live, multi-chain stablecoin platform to support institutional-grade adoption," the group said in a statement. 

Separately, Rachael Jones, has been promoted from operations lead to head of ecosystem & strategic initiatives, with the mandate to expand the group's current partnerships with clients including Ripple, Coinbase and Circle.

"Over the past few years, we have focused on building and proving the foundations of AUDD in the market. These appointments are about taking that foundation to the next level and scaling what is already working to enable more institutions to use stablecoins to modernise and improve their services," said AUDC's chief executive officer, Effie Dimitropoulos.

This year the group was granted an AFSL, which allows it to provide non-cash payment facilities and operate within Australia's financial regulatory framework. It said that it has processed more than $1.5 billion in transaction volume since the product AUDD was launched in 2022.

The Magellan Global Fund - Open Class Units - Active ETF (ASX: MGOC) and the Magellan Global Fund Hedged investment strategy will be changed to the Vinva Global Alpha Strategy, and Vinva Investment Management will be appointed as investment manager for the funds.

The funds have approximately $5.3 billion in assets under management (AUM), as at April 30.

Magellan will remain the responsible entity for the funds and retain responsibility for distribution.

Additionally, Magellan said it intends to close the Magellan Global Equities Fund (Currency Hedged) (ASX: MHG). The fund had around $94 million AUM, as at April 30.

After the announcement there was talk on LinkedIn that job cuts would impact fund managers and administration workers throughout Magellan.

A Magellan spokesperson would not confirm to Financial Standard the exact number of employees affected but did confirm there would be job losses.

"As a result of changes to the global equities strategy, a number of roles will be impacted. We are consulting with those affected and are focused on providing appropriate support throughout this process," the spokesperson said.

"We expect the Magellan Global Opportunities Strategy to operate with a dedicated team of six at the conclusion of this process. Alan Pullen will continue as portfolio manager, with Ryan Joyce as deputy portfolio manager.

"We thank those departing for their significant contribution and will continue to assist them through the transition."

Under the changes Magellan will reduce the management fees for the funds from 1.35% p.a. to 0.89% p.a., and performance fees will no longer be charged.

Morningstar equity analyst Shaun Ler said the changes were an acknowledgement of competitive pressure.

"Magellan is ceding management of its flagship strategy and slashing fees, steps it has historically resisted. The shift to lower-cost systematic approached also reshapes Magellan's own product suite," Ler said.

"We don't expect earnings improvement. The fee reduction compresses margins directly and cost savings offer only a partial offset. Magellan explicitly flagged continues short- to medium-term outflow risk stemming from the strategy change, which limits the pace of any near-term earnings recovery."

However, Ler added that Vinva is the better performing manager of the two.

"It is relatively well rated by research houses, though considerably less known than larger domestic peers. This may slow redemptions from Magellan over time, but won't reverse them," he said.

Based in Australia, O'Brien will report to Franck Dubois, head of Asia Pacific for securities services at BNP Paribas.

O'Brien brings more than 20 years' experience at BNP Paribas, having started his career in 2005 within the bank's Australian securities services business.

He later headed custody and clearing product for Asia Pacific from Hong Kong SAR, before taking charge of the banks and brokers segment globally and the FI&C client line for the UK and Middle East.

"With his deep regional knowledge, strong relationships with global partners, and proven track record in delivering complex, market-focused solutions, Gary is well positioned to lead the FI&C client line in Asia Pacific for BNP Paribas' Securities Services business and further strengthen its presence in the region," BNP Paribas said.

"The appointment demonstrates BNP Paribas' ongoing commitment to expanding its securities services business in Asia Pacific, driving growth in the region, and delivering tailored solutions to clients."

Earlier this month Janus Henderson awarded a long-term strategic mandate with BNP Paribas' Security Services to provide a wide range of fund and market and financing services across Australia, the UK, France and Luxembourg.

The mandate is an extension of BNP Paribas' relationship with Janus Henderson and will leverage the bank's capabilities, including those of its Global Markets business, to support Janus Henderson's strategic ambitions.

BNP Paribas said after a competitive tender process, it was appointed to help enhance operational efficiencies across regions, and to support Janus Henderson's front-to-back target operating model transformation.

Joe Cheika, joining from Colonial First State, has been appointed to the newly created role. He will be based in Sydney and will report to chief executive Jason Todd.

Cheika is Ten Cap's second hire since the firm's launch in February 2025, following Mark Kellock who was names senior equity analyst in October.

In his new role, Cheika will lead the firm's distribution function, working closely with existing and prospective clients to drive growth across adviser, private wealth, and institutional channels, Ten Cap said.

Cheika brings nearly 15 years of experience across the financial services industry. Most recently, he was business development manager at CFS, driving new business opportunities and managing relationships with various clients.

He also held roles in investment sales, research relationship management and product governance, gaining experience across platforms, product development, and investment oversight. Prior to that, he spent over two years at Commonwealth Bank.

Commenting, Todd said Cheika's appointment comes at a time when Ten Cap is continuously looking for growth.

"Joe brings over 13 years of experience in wealth and investment management sales and has a strong track record in investment distribution and a deep understanding of the Australian wealth landscape," Todd said.

"His experience across sales leadership, platform strategy, and client relationship management will be instrumental as we expand our flagship fund into new investment channels."

This appointment follows the launch of Ten Cap's listed active ETF (ASX: TCAP) in November last year, based on its existing Alpha Plus Fund, a long-short equity only strategy in Australia.

JANA Investment Advisers has appointed Zac Leman to the newly created position of general manager, wealth.

Leman was most recently head of managed accounts and direct equities at BT Financial Group, a role he held since 2019. Previously, he was head of platforms investment product development.

Prior to BT, he spent four years at Mason Stevens, including as head of adviser services.

At JANA, he will lead the wealth business strategy, strengthening advice, investment, operational and implementation capabilities to support continued growth in the segment.

Meantime, head of wealth Michael Karagianis will continue to lead JANA's Wealth consulting relationships.

The group said Leman's appointment reflects the strong growth and momentum in its wealth business, which has now grown to more than $15 billion under advice or management, about one fifth of which is in managed accounts.

"Zac's appointment strengthens our leadership at a time when clients are seeking more sophisticated, institutional-quality capability that's delivered to meet their needs," JANA general manager of strategy and innovation Lauren O'Neill, whom Leman will report to, said.

"Drawing on his deep understanding of the wealth and advice landscape, Zac will play a key role in expanding access to our investment expertise, and delivering consistent, high-quality advice and implementation outcomes."

Meanwhile, commenting on his new role, Leman said: "JANA's client-first philosophy, purpose-led approach and its depth of investment capability strongly align with how I think about delivering value to clients."

"The business has built real momentum in the wealth segment, and I'm excited to be joining at a time of opportunity and growth.

"The wealth sector continues to evolve, with increasing demand for more sophisticated, outcome-focused solutions. I'm looking forward to working closely with clients and partners to build on JANA's strengths and deliver advice and implementation that supports long-term value creation."

Based in Melbourne, Sara will focus on strengthening Northern Trust's asset owner proposition, working closely with institutional investors, consultants and industry stakeholders across Australia, New Zealand and broader APAC markets.

The appointment comes as competition intensifies within the custody and asset servicing sector, with providers increasingly targeting large scale super funds and institutional mandates through enhanced technology, data and client engagement capabilities.

Sara brings more than two decades of experience industry engagement across strategy and organisational transformation.

Most recently, he was a consultant at Alpha FMC and previously served as a general manager of technology at NZ Super Fund, overseeing enterprise- wide digital strategy, cybersecurity and data platforms, while managing a large team with a multi-million-dollar budget.

Northern Trust said Sara's background in organisational transformation and industry engagement will support its efforts to evolve its service offering and respond to changing client demands.

The firm is one of the largest custodians operating in Australia, with close to $1 trillion in assets under custody locally, placing it among the top providers in a market that has grown to more than $6 trillion in assets overall. It also has the third-highest assets under administration.

Sara's appointment signals a continued focus on building strategic relationships and positioning Northern Trust to capture further growth opportunities in the region's evolving investment landscape, it said.

Gary Dransfield is stepping down after four years as independent chair of ASFA.

While there, he oversaw the appointment of Mary Delahunty as chief executive, the development of the lobby group's 2024-2027 strategic plan, and the integration of ASP Services into ASFA InPractice, it noted.

"I am proud of the organisation ASFA has become during my four years as chair," Dransfield said.

"ASFA is a unique organisation. It is the only body that brings together all parts of Australia's superannuation sector into the one tent, and it is the only body that delivers end-to-end policy reform for the benefit of the whole sector."

At the same time, Bryony Hayes, formerly chief risk officer at TelstraSuper, is also departing the board.

It comes as TelstraSuper merges into Aware Super.

"It has been a pleasure to work with the ASFA chief executive and board at a pivotal time for the organisation and the super sector," she said.

"ASFA is strongly positioned to continue to meet its role as the voice of super as the sector evolves to meet new challenges."

In acknowledging both Dransfield and Hayes, ASFA said they "provided invaluable guidance and advice on the development of the SC3 Framework, a sector-driven initiative coordinated by ASFA to build resilience to cyber threats, fraud and scams by sharing threat intelligence across the industry."

"I am very appreciative of the assistance, collective wisdom and time Gary and Bryony have devoted to the ASFA board," Delahunty said.

"Gary in particular was a valuable source of guidance to me in my first two years as chief executive, and I am grateful for his leadership and help."

Dransfield will stay on to assist with the transition to a new chair, recruitment for which has commenced. ASFA is also in the process of appointing a new board director to replace Hayes.

Meantime, yesterday ASFA and JANA published a guidance note on investment manager operational due diligence to help super trustees meet their fiduciary and regulatory obligations.

ASFA said it aims to complement APRA's prudential framework, including SPS/SPG 530 (Investment Governance) and CPS/CPG 230 (Operational Risk Management), with important intersections with CPS 234 (Information Security).

"The strength of our due diligence frameworks really matters to the integrity of the super system. So, this work has consequences for every Australian worker and retiree," Delahunty said.

"The Guidance Note gives the industry a consistent, practical method for assessing investment manager risk. It's also timely. Quite rightly, regulators' expectations around operational resilience are only moving in one direction, and that's upwards."

Also commenting, JANA head of operational consulting Jo Leaper said: "Operational due diligence isn't a tick-the-box exercise. In practice, there can be gaps between how processes are document and how they operate day to day."

"Effective due diligence is about understanding how an investment manager functions, and whether governance and controls are genuinely working under pressure. Clear roles and responsibilities, appropriate segregation between decision-making and oversight, and well-defined escalation pathways are fundamental to making due diligence meaningful."

Generation Life named Robert Coulter as national key accounts manager, joining from Allianz Retire+ where he served as head of key accounts.

Coulter will focus on platform and institutional collaboration, APL positioning, and driving further adviser adoption of Generation Life's investment bond and investment-linked lifetime income solutions.

He previously worked in senior roles at Ignition Advice, Financial Advice Association Australia, AMP, ING, BT Financial Group and MLC Australia.

Generation Life general manager of distribution Brendon Rodda said Coulter spent more than 20 years building the kind of lasting relationships that advisers and licensees value most, and he understands what it takes to translate those relationships into meaningful outcomes for clients.

"It's a hugely exciting time to be joining Generation Life. The business is rapidly expanding, adviser demand is at record levels, and the tax and retirement landscape is shifting in ways that play directly to our strengths. Robert will play a key role in sustaining our growth momentum while continuing to deliver the high-quality services our advisers and licensees expect," he said.

Separately, PPS Mutual appointed Hasib Qayumi as business development manager for New South Wales.

He will report to NSW and Australian Capital Territory state manager Sabrina Sequeira-Walmsley. His responsibilities include driving growth across PPS Mutual's adviser network in NSW and working closely with financial advisers to support professional clients.

Qayumi joins from AIA Australia where he spent more than eight years in business and client development roles spanning retail distribution and group corporate. He also worked at ANZ, Asteron Life and CommInsure.

"Hasib is well known throughout the advice community and has established a strong reputation with advisers; I have seen it firsthand in the field. Hasib cares about our industry, understands the landscape and brings a positive, can-do attitude. I am very much looking forward to welcoming Hasib to the PPS Mutual family," said Sequeira-Walmsley.

Pasika has been serving in the role in an acting capacity since October 2025, stepping up after Simon Esposito left the fund for a role at buyout firm CVC Capital Partners. At the time, he also held the role of deputy chief investment officer.

Since, she's continued to progress the fund's private markets agenda and strengthen external relationships in that time, Rest said.

Pasika has been with the fund since 2020 working across private equity and the broader alternatives portfolio. She served as head of private equity and head of growth alternatives.

Previously, she worked in private equity at Future Fund for close to a decade.

Rest chief investment officer Michael Clancy said Pasika's appointment reflects her depth of investment experience and leadership capability.

"Marina brings strong investing credentials, a proven track record in private equity and deep experience across private markets," he said.

"She has also demonstrated strong leadership capability in the role, building momentum within the team.

"Since stepping into the role on an interim basis, Marina has led the team with clarity and sound judgement, while continuing to advance our private markets strategy. I'm delighted that she is now stepping into the role on a permanent basis."

For her part, Pasika said: "It's a privilege to continue leading the private markets team and to build on the work underway."

"The focus remains on delivering strong long-term outcomes for members through disciplined investing, strong partnerships and a clear strategic approach. I'm looking forward to what lies ahead."

JANA said the appointment reflects its constant evolution as the world in which it operates changes, with client and regulatory expectations on the rise.

As first reported by Financial Standard, Wacher recently stepped down as chief investment officer, Asia Pacific at Morningstar Investment Management and chair of its global investment committee.

Prior to Morningstar, Wacher was the investments chief at Cambooya, the family office for the Vincent Fairfax family. He's also held roles at Qantas Super, Russell Investments and CMC Markets.

At JANA, he will lead the overarching investment strategy and oversee investment outcomes across all client segments and mandates. This includes the investment research, investment strategy and sustainability functions.

Wacher will report directly to chief executive Georgina Dudley, who said the creation of the role is in response to the increasing breadth and complexity of client needs.

"JANA has a team with real depth across research, strategy and sustainability, and I'm incredibly proud of what they've built," Dudley said.

"As demand continues to broaden across our clients, the work is becoming more multi-dimensional as we support a wider range of client objectives and portfolio needs."

"A chief investment officer role strengthens investment leadership across our business and ensures we continue to deliver disciplined, long-term outcomes for our clients."

Wacher, who will take on the role on May 19, said: "I'm excited to join JANA at a time when clients are placing an even greater emphasis on disciplined decision-making and consistent oversight."

"JANA has built strong investment capability grounded in rigorous research and thoughtful portfolio construction.

"My focus will be to provide leadership across the investment function, build on the depth already in place, and ensure we continue delivering disciplined, long-term outcomes for clients."

Schmidt was most recently principal analyst at APRA, a role she held since January 2023. There she led research projects related to super fund member outcomes, including the recent thematic review of investment governance among platform trustees.

Previously, she worked in super fund research at SuperRatings for six years.

She's also worked for Macquarie University and the Centre for International Finance and Regulation in the past.

Schmidt said she is looking forward to working with the team to deliver research, insights and strategic perspectives.

"Rainmaker sits at a unique intersection in the wealth management landscape with coverage including superannuation, investment management, platforms, managed accounts, model portfolios, retirement solutions and financial advice under one roof. It's a breadth that's genuinely rare, and underpinned by an incredibly strong depth of data, coupled with a leading media and events footprint," she said.

"These were all big draw cards given my passion for research and insights and expertise in superannuation and investment management."

Also commenting, Rainmaker's executive director, research David Gallagher said: "Camille's background, including her recent APRA experience, combines academic rigour with real-world industry impact. Camille has a proven ability to translate complex data into insights that inform industry professionals, regulators and industry leaders."

Meanwhile, Rainmaker managing director Chris Page said: "Camille's appointment further strengthens our research team, building on our recent hires across the business to help clients stay ahead of the industry."

"For more than 30 years, Rainmaker has been the primary source of industry research, and with our expanded team, we're well-positioned to remain the most superior offering in the market. We look forward to showing clients exactly what's in store over the next 12 months."

Yip will assume the role, effective May 29, following the earlier announcement that chief executive Helen Lofthouse would step down.

The exchange said the appointment is intended to ensure leadership continuity during the transition period, with Yip bringing more than two decades of experience across global financial markets. He joined ASX in 2023 and has held senior roles spanning capital markets operations and strategy.

Lofthouse, who made the announcement she would be stepping down in February, faced immense pressure over lengthy delays to the rollout of the CHESS system.

The new technology was originally supposed to be rolled out in April 2021, but faced successive year-long delays. In 2024, ASIC sued the ASX in the Federal Court over allegedly misleading statements related to the project.

One of Lofthouse's first calls as chief executive, when she took the top job in August 2022, was to dump that initial CHESS replacement project and start over.

However, throughout her tenure the ASX has also suffered several outages, most recently in December 2025, which also became the subject of an ASIC inquiry.

ASX chair David Clark said Yip's institutional knowledge and operational experience would support the organisation as it maintains focus on delivering stable and well governed markets.

"The board is committed to ensuring a smooth transition and maintaining momentum against ASX's strategic priorities," Clarke said, adding the global search for a permanent chief executive is ongoing.

Candidates under consideration are understood to require experience across financial markets, transformation and risk management.

Yip said his immediate priority would be maintaining operational resilience, supporting customers while continuing to deliver key strategic and technology initiatives.

The leadership change comes at a time when ASX remains focused on strengthening its systems and governance, following a series of technology and operational challenges in recent years.

In recognition of Yip agreeing to assume the role of interim chief executive, the board has agreed to additional remuneration arrangements for the period of time Yip is in the role on a pro rata basis.

Yip will receive an additional remuneration of $600,000 per annum on top of his current $900,000 salary. Additionally, he is eligible for a short-term incentive of $325,000, on top of his current short-term incentive of $800,000.

This means that should Yip stay in the interim role for at least 12 months and meet his short-term incentives, he could earn a total of $2.625 million.

In an update, NZ Super Fund said it has promoted Sian Orr to the role of director, private equity.

Orr was previously portfolio manager, private equity, a role she'd held since July 2019. Prior, she worked for PwC UK, New Zealand Treasury, and Deloitte.

The fund also promoted Bryan Bennett to director, real assets.

Bennett was previously portfolio manager, direct investments. He took this role in December 2020 after about five years with the fund.

"With some 20 years' collective experience on the investment team, Orr and Bennett have been involved in some of the super fund's most important investments as portfolio managers and have held numerous governance roles on behalf of the fund," NZ Super Fund said.

Meantime, Chris Parks was named director, sustainable investment.

Parks will join from Cbus where he's been working in ESG portfolio integration. He's also previously worked as ESG manager at TelstraSuper, and as an ESG investment strategist at QSuper.

The fund said Parks is responsible for fostering cross-team collaboration to ensure sustainability considerations are fully integrated into all parts of the Guardians' investment process and leading the Guardians' stewardship activities.

NZ Super said it continues to hunt for a head of portfolio completion and head of private equity.

Parks' appointment comes after a judicial review found against NZ Super Fund, determining part of the fund's current sustainable investment policy was not compliant with legislative requirements.

The New Zealand High Court found the fund had failed to invest "in a manner consistent with avoiding prejudice to New Zealand's reputation as a responsible member of the world community" when it continued to invest in companies operating in the Occupied Palestinian Territory.

He served as chief operating officer at Evolution Trustees for more than eight years and was appointed the interim chief executive following the passing of former chief executive Rupert Smoker in September last year.

He brings over 25 years' experience across the financial services industry, including stints at PwC, Hastings Funds Management and GE Capital. Prior to Evolution Trustees, Norman was the chief operating officer at Aurora Funds Management and director of transaction advisory services at EY, a position he held for nearly a decade.

Speaking to Financial Standard, Norman described the appointment as a "great personal honour".

"I have been with the business for more than eight years, so this appointment is both a great personal honour and a strong endorsement from the board of the strategy we have been pursuing," Norman said.

"To me, it reflects the strength of the foundations we have built and gives us confidence as we move into the next phase of growth."

Norman said he is observing strong growth across the business, including in ETFs, real assets and ASX-listed schemes.

"More broadly, we are seeing continued demand for high-quality trustee and responsible entity services, particularly from clients who value strong governance and operational capability," he said.

Moving forward, Norman has set his eyes on scaling the business by allocating resources accordingly.

"Our focus is on maintaining the momentum we have built by continuing to invest in our people, operations, systems and processes," Norman continued.

"That will help us scale in a disciplined way, continue delivering high-quality service to clients, and maintain the strong compliance and governance standards that are central to our business."

Following its recent administration transition to SS&C, REI Super completed a structural review, opting to fold all its member services functions under one role.

Group executive, transition and transformation Michelle Boucher has been named chief member officer, retaining a focus on transformation.

Meanwhile, group executive, marketing and growth Andrew Tait has become chief operating and growth officer.

REI Super said the changes were made to "further streamline accountability and decision-making across the fund", adding they align executive responsibility with strategic priorities, efficient operations, and its focus on delivering value for members.

They've also been made in line with the hiring of Hayley Pope, who is now chief risk officer at REI Super.

Also serving as general counsel, Pope joined in the role this month. The fund said, given the evolving legislative environment of superannuation, it made sense to introduce a senior lawyer to the leadership team.

Pope leaves behind the role of executive manager, governance at First Super after close to three years. Prior, she was head of risk and compliance at RMBL Investments and worked at IOOF, Australian Unity, Cbus and Hostplus, always in legal and compliance roles.

REI Super chief executive Jarrod Coysh said the appointment reflects the fund's "continued commitment to strong governance, prudent risk management and member-first decision making."

"Hayley brings a strong track record in risk, governance and compliance, with deep experience across the superannuation sector," Coysh said.

"She understands the regulatory environment we operate in and the importance of sound risk management in supporting better outcomes for members."

He added that the new structure better reflects how the fund operates today.

"They support faster decision-making and stronger coordination of activities across the fund," he said.

At First Super the role of executive manager, governance is being temporarily filled by Jeremy Johnson. Johnson joined the fund in January this year as company secretary and in-house counsel.

He was previously general manager, operations at Prime Super.

Andrew Champion was appointed the principal of natural capital in November 2021 and then promoted as head of natural capital in April 2024.

He was responsible for the direct investments into natural capital assets, including diversified agricultural assets and operations and regulated environmental market projects.

"Following a strategic review, QIC has realigned its natural capital capability within the private equity platform," a QIC spokesperson said.

"As part of this transition, Andrew Champion has stepped down from his role as head of natural capital and QIC. We thank Andrew for his leadership and contributions to establishing the capability."

In the last 18 months, Champion was involved in deals that included the QIC, Wollemi Capital and Kalfresh Vegetables consortium.

Some $80 million was invested into the Kalfresh Bioenergy Facility which transforms locally produced food and farm waste into renewable electricity and natural gas.

"I am grateful for the opportunity to pursue this mandate with QIC, building a small portfolio of direct investments which target attractive returns with opportunities for improved productivity and positive environmental outcomes," he said at the time on LinkedIn.

Prior to QIC, Champion was a non-executive director at GM Hotels and spent five years at the now-defunct Blue Sky Alternative Investments.

Champion served as the head of the Syndey office for five years and at the same time was chair of the listed investment company Blue Sky Alternatives Access Fund.

He also held senior positions at private market investment advisory PhillipCapital, Citi and Wilson HTM Investment Group.

QIC recently appointed two partners to its private debt infrastructure team.

Xi Chen, based in London, and Lindsay Scully, based in New York, were promoted from principal after originating and executing several major deals.

The pair oversees deployment of capital as the Queensland government-backed fund expands its global infrastructure debt portfolios for institutional investors.

In her new role, Allirah Rehac will be responsible for portfolio implementation, investment communications, platform due diligence and governance, Aequitas said.

Rehac brings over a decade of experience across financial advice, private banking and platform development. She began her career as a trustee consultant at MLC, before moving to the private wealth division at Commonwealth Bank. She also spent nearly two years at Iress as client solutions consultant in the UK.

More recently, she was head of operations at Lumiant, the cloud-based advice and client engagement platform, for over four years before transitioning into the role of senior product owner, adviser at Colonial First State, developing and overseeing initiatives for its FirstNet Adviser platform.

Aequitas said she will work closely with joint chief investment officers Rowan Stewart and David Berthon-Jones to lead the investment operation team and ensure investment decisions are delivered with "discipline, accuracy and consistency."

She will also work to strengthen the firm's governance, data integrity and execution as it continues to scale for growth, it said.

Aequitas was founded in 2020 and aims to assist financial advisers and dealer groups looking to scale their businesses through tailored investment solutions.

Facer had been with NGS Super since 2017, having first joined as chief risk and governance officer. He's since held a raft of roles, and most recently had the dual title of chief member officer and deputy chief executive.

A spokesperson for NGS Super confirmed the fund is now actively recruiting for a new chief member officer and, following a review of its executive structure, the deputy chief executive position has been retired.

At Russell, Facer replaces Bronwyn Yates, who is leaving the company after a 19-year tenure. She became head of super in July 2025 after holding a variety of roles in strategy and product.

Yates has decided to spend more time with family but will stay on until the end of May to ensure a smooth transition.

Facer brings over 30 years' experience in superannuation, with previous roles including partner at Deloitte for over five years, and close to 20 years at Mercer in Sydney, London and Singapore.

In taking on the new role, he also becomes a member of Russell's Asia Pacific leadership team, reporting to head of Asia Pacific Jason Edgar.

"Ben brings deep industry experience and a strong track record leading large-scale programs, building strong stakeholder partnerships and driving member growth," Russell Investments said.

"His expertise will help us continue growing the superannuation funds we power and deliver more innovative solutions to the market. Welcome to the team, Ben."

For his part, Facer said: "I'm excited to join Russell Investments at a time of continued growth with our partner funds and innovation in our member offering."

Facer's appointment comes as Russell Investments integrates Zurich's investment management business, after acquiring it earlier this year.

This year, Russell Investments celebrates 40 years in business in Australia.

Kate Misic will join HESTA in the role on June 15.

The role was vacated by Dianne Sandoval when she departed the fund in December 2025.

She has been acting chief investment officer at TelstraSuper since March 2025 and at the fund for over 16 years. Her departure comes as TelstraSuper is set to complete its merger with Aware Super, with members to join Aware Super on April 30 and have access to its full suite of services from May 11.

Misic also previously held roles at Warakirri Asset Management, Frontier Investment Consulting and Wilshire Associates.

In her new role, Misic will be responsible for leading the 'top down' aspects of the portfolio, which includes portfolio construction and risk analysis, economic and capital market research, and portfolio overlays.

She will report directly to HESTA chief investment officer Sonya Sawtell-Rickson.

HESTA chief executive Debby Blakey, who recently announced her upcoming departure, said the appointment will further strengthen leadership and expertise within the fund's investment team.

"We're excited to welcome Kate to HESTA, who brings a strong track record in investments. This is a critical role within our investment team and we're confident Kate's expertise will help us continue to deliver the strong long-term returns our members deserve," Blakey said.

Sawtell-Rickson added Misic's experience would support HESTA's efforts to capitalise on long-term opportunities for members in a fast-changing environment.

"Kate has broad and deep experience navigating a range of market conditions and asset classes, including internal management, which will be invaluable for HESTA as we continue to leverage our total portfolio approach," she said.

"Her deep knowledge and trusted leadership will be invaluable as we continue to evolve, internalise and strengthen our investment strategy for the benefit of our members."

Commenting on her appointment, Misic said she is excited to support the fund's clear sense of purpose.

"I'm thrilled to be joining HESTA. I look forward to contributing to an investment strategy that delivers real impact for members, many of whom have dedicated their careers to caring for others," Misic said.

Jesse Curtis has been appointed as the new head of direct real estate for the group's Australian business.

In a media statement, Qualitas said Curtis will be responsible for building out the group's direct real estate platform as a separate business to its private credit and real estate private equity divisions.

"It's something we've had on the radar since IPO but we've been patient and we waited for the right person and the right point in the cycle. Jesse ticks both boxes," the group said.

In 2024, Curtis was promoted to head of funds management at Centuria Capital where he oversaw more than $20 billion in assets across listed and unlisted property funds invested in the office, industrial, retail, healthcare, and agricultural sectors.

Prior to that, he was the head of industrial and the fund manager of the Centuria Industrial REIT (CIP).

Curtis also spent six years at Dexus in portfolio management and capital transactions, and had earlier stints at Goodman and CBRE.

Based in Sydney, he will lead a business that deploys third-party capital across core, core-plus and value-add strategies.

"We've already got around $1 billion in gross assets across two existing funds, so there's a foundation for him to build from," the group said.

Separately, Qualitas announced two new appointments since the start of the year.

Michelle Porcelli was named director, platforms & distribution in January while Jack Delaforce, previously VP at BlackRock, joined last month as director in the group's Advised Distribution team.

Qualitas manages more than $10.9 billion in assets for institutional, wholesale and retail investors.

Brandweiner was previously chief executive of Pendal Group from 2018 to 2023. Prior to that he was chief investment officer of First State Super (now Aware Super) and group executive at Perpetual Investments.

More recently he has served on several boards and investment committees. He is chair of Impact Investing Australia and also sits on the investment committees of several family offices.

He is also on the investment committee of Aboriginal Investment NT and is chair and co-founder of OpenDirector.

Australian Ethical Investment (AEI) announced this morning Brandweiner has stepped down from the AEI board to take up his new role.

"Richard has brought deep investment insight and a strong commitment to responsible and impact-led investing, and we thank him for his valuable contribution and service to Australian Ethical. We congratulate him on this exciting role at the Future Fund and wish him all the best for the future," AEI chair Steve Gibbs said.

The appointment follows a global search process in line with Australian Public Service requirements, Future Fund said.

Future Fund deputy chief investment officer Hugh Murray will continue as interim chief investment officer until Brandweiner starts his new role.

"I am delighted to welcome Richard to the Future Fund. He is an experienced investor and executive and has significant experience in leading investment teams to achieve their mandates," Future Fund chief executive Raphael Arndt said.

"I thank Hugh Murray for serving as interim chief investment officer and for his leadership of the investment program through a period of very significant market uncertainty over recent months."

Speaking on his appointment, Brandweiner said the Future Fund has a compelling purpose as Australia's sovereign wealth fund.

"Its investment approach and capabilities are globally respected. I look forward to working with the team and the board of guardians to continue to deliver strong risk-adjusted returns for Australia," he said.

The announcement comes after Future Fund made a public statement earlier this week defending itself after reports alleging Arndt's leadership style may be forcing staff out the door.

The reports alleged Future Fund's former chief investment officer Ben Samild - who had been with Future Fund since 2013 - stepped down from the role after two years due to tension between himself and Arndt.

Samild left the fund to take on the chief strategist role at Abu Dhabi Investment Council. Following his footsteps were former deputy chief investment officer David George, who joined also joined the Abu Dhabi sovereign wealth fund as deputy chief strategist, and former investment professional Pradheesh Salvarajah, who took on a role as investment manager at Abu Dhabi Investment Authority.

Matt Wacher was appointed to the role in 2019 and will finish up in late May. Wacher is also the chair of Morningstar's global investment committee.

Morningstar president of wealth and research Daniel Needham will assume oversight and management of all APAC portfolios and will be supported by the Australian and global investment teams.

"Daniel will continue to work closely with senior investment leaders, including Bianca Rose, Bryce Anderson and Michael Malseed, to ensure investment objectives, processes and client commitments remain firmly on track," Morningstar said.

"The team will continue to operate as usual during this transition, with no disruption to our investment approach or day-to-day portfolio management. The process to hiring a suitable successor to Matt has begun."

Wacher was previously the investments chief at Cambooya, the family office for the Vincent Fairfax family.

He also held several senior investment roles for firms such as Russell Investments, Qantas Superannuation, CMC Markets and Ord Minnett.

At Russell Investments, Wacher was the regional director of indexes or Australia and New Zealand. At CMC Markets based in Tokyo, he was the head of institutional sales and product.

"Matt has been with Morningstar for around seven years and has made a significant contribution to our investment group. He has played a key role in driving our investment process, while also being a passionate leader and mentor to many across our teams. We are grateful for the impact he has had on our business and our people," Needham said.

"I would like to sincerely thank Matt for his many contributions to Morningstar and wish him every success in the next stage of his career."

Early this year, Morningstar made two hires to its managed portfolios team - a national sales lead and an investment specialist.

Vijay Srinivasan is the national sales lead and Clint Abraham is the national director, investment specialist.

Srinivasan oversees the distribution strategy for its managed portfolios across licensees, platforms, advice practices and financial advisers.

Abraham works alongside the account managers and business development team to support advisers and investors.

A report in the Australian Financial Review suggested some employees have described Arndt as "controlling" and "micromanaging", which may be the reason for several staff departures.

In response, Future Fund acknowledged three members of the investment team left last month, but said the departures were not irregular, particularly in a competitive environment.

"Staff engagement stands at 82% and is the eighth highest among the 107 Agencies in the Australian Public Service. Staff turnover is normal at 11.8% to 12.8% in each of the last three years. Staff turnover at senior levels in the investment team over the year to 31 March is 6.8%," it said.

"The organisation competes in a global market for talent. It grows and develops staff who drive investment success, but who are also attractive to other employers. When staff leave to take up other opportunities, the organisation has a strong pool of talent who step up to provide new leadership and capabilities."

Future Fund said the roles have already been filled from talent within the organisation.

"Current members of the Investment Committee have an average of 10 years' experience at the Future Fund, on top of extensive experience in previous roles elsewhere," it said.

"The departure of three members of the investment team in the last month has seen existing staff members, with five, 10 and 15 years' experience at the Future Fund respectively, step up to take on new responsibilities."

The story in the AFR also alleged Future Fund's former chief investment officer Ben Samild - who had been with Future Fund since 2013 - stepped down from the role after two years due to tension between himself and Arndt.

Future Fund did not comment on the allegations but did say the global search for a new chief investment officer is "well advanced".

Samild left the fund to take on the chief strategist role at Abu Dhabi Investment Council. Following his footsteps were former deputy chief investment officer David George, who joined also joined the Abu Dhabi sovereign wealth fund as deputy chief strategist, and former investment professional Pradheesh Salvarajah, who took on a role as investment manager at Abu Dhabi Investment Authority.

Future Fund chair Greg Combet said the board and Arndt are "firmly committed" to working together, with the wider organisation, to deliver strong returns while managing risk.

"This commitment is particularly important as we navigate the impact on global markets of the US-Israel-Iran war and significant long-term shifts in the investment environment," he said.

In the five years to 31 December 2025, Future Fund generated a return of 9.4% per annum adding over $96 billion to the value of the portfolio. In 2024-25 alone the fund's return of 12.4% added nearly $30 billion to the value of the portfolio.

"The organisation's success is founded on a strong and collaborative culture and deep investment and operational expertise," Future Fund said.

"Since the inception of the Future Fund the chief executive has been a member of the Investment Committee to ensure the whole organisation is focused on investment performance."

Scott Henderson replaces Nicole Gower, who departed after nine years with the super fund.

Henderson is currently vice president of corporate services at Edith Cowan University (ECU), where he oversees finance, information technology, buildings and facilities and commercial operations.

He is also the director of ECU Holdings, the university's investment company.

Perth-based Henderson previously served as chief executive of Netball WA and the West Coast Fever, SkyWest Airlines and Harvey Beef.

During her directorship, Gower served as deputy chair for two years. She also chaired the people, nomination and remuneration committee.

Gower currently is the vice president of operations at the University of Sydney and previously worked in senior roles at Macquarie University and University of New South Wales.

UniSuper board chair Mark Armour said Henderson's direct experience in capital markets, large-scale infrastructure investment and higher education governance makes him a strong addition to the board.

"We look forward to the contribution he will make to the fund's continued focus on delivering great retirement outcomes for members," he said.

"I also want to take this opportunity to acknowledge the incredible work of Nicole Gower over more than eight years on UniSuper's board, Nicole's contributions were invaluable over this time and on behalf of the board I thank Nicole Gower for her exemplary service."

In January, venture capital firm Uniseed appointed Alastair Hick as chief executive, replacing Peter Devine who left the organisation in December 2025 after 20 years in the role.

UniSuper invested $75 million in Uniseed in 2022, becoming co-owner with others such as Monash University, Macquarie University and the University of Technology Sydney.

UniSuper had about $166 billion in assets under management at the end of 2025.

Damien Foley joins Melbourne-based Tribeca Financial where he is responsible for developing executing strategic partnerships with key industry participants.

He also supports them to establish, progress and secure long-term, goals-based financial advice relationships.

Foley previously worked as general manager of client partnership and business development for nearly six years at IFS and before that was general manager of advice partnerships for almost three years.

Foley spent nearly 20 years at IFS, starting out as a financial adviser and fund leader with Industry Fund Financial Planning, providing advice in superannuation and retirement planning. Prior to IFS, Foley was a financial planner at National Australia Bank.

Tribeca Financial founder and director Ryan Watson said Foley brings with him over 20 years of experience in the strategic partnerships space.

"This, coupled with his cultural, values and goals-based advice philosophy alignment made Damien a perfect fit for Tribeca. The focus, energy and early impact that he has already brought to the role are a credit to him," Watson said.

Tribeca Financial recently celebrated its 15-year anniversary, growing a to firm of 34.

"We want to continue to grow. We want to help and serve more families. Helping clients get what they want from life also allows us to grow more professionals. I'm really proud of what we've put together," Watson said.

Chief commercial officer Danni Visser and chief membership officer Emily Jenkins finished up last week.

Visser was in the role since January 2023 and before that was head of growth for nearly two years.

Before Ensombl, Visser was a strategy specialist at Zurich, business development manager at Macquarie Group and spent some years at AIA Australia and OnePath.

Jenkins joined as community and operations manager in 2017 and moved on to become head of community and chief product officer. It was only in January that she was appointed chief membership officer.

Ensombl chief executive Andrew Rocks said: "Given the geopolitical and market uncertainties, we have decided to scale back some of the events we facilitate but continue to focus and grow our podcast and market-leading CPD."

"We wish Emily and Danielle the very best for their future endeavours."

Rocks replaced Clayton Daniel as chief executive last November. Rocks previously served as Ensombl chair between 2020 and 2023.

"I've had a front row seat to the advice and corporate landscape while building Ensombl, and a few things became clear along the way. What sat underneath Ensombl's growth was connection - built through sharing the hot mess stuff, not just polished outcomes. That realness changed things for thousands of advisers," Visser said on LinkedIn.

Jenkins wrote she has been "lucky enough to sit right at the heart of the community experience for years - listening to what advisers are actually dealing with, where things got hard, and designing initiatives alongside Danni Visser that helped move them forward."

"It was often raw, sometimes unpolished, but always driven by the same mission - solve the problems top of mind for advisers.... This meant adjusting our strategy and processes constantly, and no one complained. The team got on with it, partners were on board, and advisers were grateful someone was listening," Jenkins said.

The private equity giant has welcomed Luke Porter as associate director within the PEP Gateway team.

He joins from Carlyle Group where he was vice president in the Asia buyout team. He's also previously held roles with Ontario Teachers' Pension Plan in London, and was an investment banking associate for three years at J.P. Morgan in both Sydney and London.

Meantime, joining the private equity team as associates are Hortin Zeng and Kurtis Albert.

Zeng was most recently at Boston Consulting Group (BCG) for over two years, as was Albert.

Zeng completed an investment banking internship at J.P. Morgan and worked as an economics teacher before joining BCG, while Albert has experience working for an infrastructure manager and with Boutique Wealth Australia.

Finally, Laura Leeson was named analyst in the private equity team.

She was previously a business analyst at McKinsey and Company, and has prior experience at PEP, having completed a private equity internship there in 2024. She also has experience from time spent at Jefferies, Riparian Capital Partners, KPMG, and EY.

While studying, Leeson worked for the Financial Management Association of Australia in Brisbane.

"These new team members reflect the strong level of activity across the firm and our continued focus on delivering for investors," PEP said.

Ky Wilson was named IFPA chief executive in July last year after serving as acting general manager for about eight months. She first joined the association in 2021 as head of marketing and membership ahead of its decision to broaden the membership base; it was previously known as Tax and Super Australia.

Wilson brought many years experience in marketing and communications, including roles at the Australasian Promotional Products Association and with the Liberal Party of Australia.

"After four and a half wonderful years, the time felt right to move on. I leave with enormous respect for this organisation, its people, and the members it serves. IFPA is in a strong position, and I have every confidence in what comes next," she said in a statement to Financial Standard.

"Financial services in Australia is at a genuinely pivotal inflection point. Regulatory evolution, technological change, and growing public scrutiny of the profession are all creating pressure, but also real opportunity. The professionals who lean into that complexity, who invest in their development and stay connected to their peers, are the ones who will shape what this industry becomes."

"The organisation has built something genuinely valuable in terms of the community, the conversations, and the trust of its membership. That foundation gives IFPA every reason to be ambitious about what the next chapter looks like."

Wilson will finish up with the association this week.

Campo has served as chief executive of ESSSuper for around four years. Prior to that she led Cbus' brand, engagement, advocacy and product arm for five years. She has also served as the deputy chief executive of Industry Super Australia for a period of five years.

She is chair of Women in Super, has served as a non-executive director of Victoria Legal Aid and as a director at Industry Fund Services.

HESTA chair Nicola Roxon said Campo's 26-year career in superannuation made her a standout choice for the position.

"Robbie brings extensive experience across executive and chief executive roles, leading organisations, big and small, through complex regulatory, operational and investment environments to deliver better outcomes for members," Roxon said.

Campo said she feels privileged to be appointed to lead a super fund where 80% of its members as women and predominantly working in health and community services.

"I am thrilled to be appointed as HESTA's chief executive, a role which will allow me to continue my passion for improving the economic security of Australians and, in particular, improving retirement outcomes for women," Campo said.

Campo noted HESTA's history of advocacy, global leadership in responsible investment and a strong track record of supporting its members.

"I look forward to building on the fund's very strong foundations, and to receiving the baton from such a high-impact leader as Debby," Campo added.

"The nurses, carers, educators, and community service workers that make up the fund contribute so much to the community, and it will be an honour to help them achieve a more secure retirement."

Roxon said as HESTA grows in members and assets, Campo's leadership will help members feel confident, connected and well prepared for the future.

"Alongside our shared commitment to improving the financial futures of working people, particularly women, Robbie's an inspiring leader who will bring fresh eyes and new energy to amplifying the positive impact HESTA has for generations of our members," she said.

Blakey welcomed the board's decision to appoint Campo.

"I've had the opportunity of working with Robbie over many years on improving the super system for women and working Australians," Blakey said.

"I am thrilled I will have the privilege of handing over to Robbie as the incoming chief executive in August and feel confident she will lead the fund from strength to strength."

ESSSuper board president Pam Rebecca said Campo's appointment at HESTA is recognition of her impeccable character, leadership skills and expertise.

"It is with a great deal of pride for Robbie that we make this announcement. We were the first organisation to have the benefit of Robbie's leadership as chief executive," Rebecca said.

"Her focus on delivering strong member outcomes has been done with her characteristic warm, collaborative and engaging style. She has built a strong, capable and outcomes focused team."

Rebecca added that since joining ESSSuper in 2022, Campo has led the fund through a range of challenges, important milestones and achievements.

"Robbie has been a tireless advocate for members, driven by our purpose of making a lifetime of positive difference to those who have served the Victorian community. She has reinforced our strong relationships with the Victorian government, employers and unions," she said.

Campo said she will depart ESSSuper with much pride in the important progress made in optimising member outcomes over the past four years.

"The chance to lead ESSSuper has been a career highlight and a privilege," Campo said.

"As a leader attracted to purpose driven roles, the chance to support ESSSuper's members to make the most of their unique scheme and enjoy the best retirement possible, after a lifetime of service to the Victorian community, has been meaningful and rewarding."

Rebecca said ESSSuper has commenced a thorough executive search for the next chief executive but has a strong and well credentialled executive team to ensure a seamless handover.

"While Robbie will be deeply missed by staff, stakeholders and the board, it is a fitting recognition of her expertise and reputation within the sector that she has been appointed to lead HESTA, one of Australia's largest superannuation funds," Rebecca said.

Hemant Govan, previously head of research and portfolio management and stationed at the company for over nine years, has been appointed to lead and develop the firm's wealth capability and ensure portfolios, research and due diligence for new investment opportunities, Mutual Trust said.

Prior to Mutual Trust, Govan held senior positions at AIA, Victorian Funds Management Corporation, and Invesco.

The role has been established as part of Mutual Trust's strategy to strengthen its investment solutions capability at the core of its wealth offering, the family office said.

Mutual Trust chief executive and managing partner Phil Harkness said the appointment reflects Hemant's leadership and contribution to delivering quality and consistent outcomes for clients.

"This newly created role underscores the strategic investment we have made in resources and knowledge to enhance our wealth capability," Harkness said.

"Our clients, particularly ultra-high net worth families, value a service model that is genuinely differentiated - one that combines deep investment expertise with a highly personalised, long-term approach.

"This role reflects our commitment to maintaining a unique service offering that supports families across generations."

Meanwhile, head of wealth Jono Gourlay said Govan's appointment is timely as Mutual Trust's wealth offering has evolved significantly in recent years.

"This promotion recognises both that evolution and the importance of strong investment capability at its core. Hemant's leadership across portfolio management, research and trading is central to delivering the quality and consistency our clients expect," Gourlay said.

"Hemant's track record in portfolio management, research and trading has been instrumental in our success. His leadership in this expanded role will ensure we continue to deliver the quality our clients expect while positioning us for future growth."

Daniel Walsh has been appointed executive, advice at JBWere following several years in Morgan Stanley's wealth management division as an executive director and NSW state manager.

He's also previously spent over eight years at Perpetual and worked in NAB's banking team.

Meantime, former Saxo Australia chief executive Ben Smoker has been named head of advice for NSW/ACT.

Smoker was most recently at Commonwealth Bank as general manager, private wealth for two years. He also worked in private wealth at Westpac. With a background in broking, Smoker was chief executive of Saxo Australia, now Totality, for three years, and also led StoneX Group's Australian operations for several years.

Both Walsh and Smoker will join around the same time as new chief investment officer Alexandra Campbell, whose appointment was announced in December.

"I'm looking forward to welcoming Daniel, Alex and Ben. I know many clients and colleagues will benefit from their knowledge and experience as the team continues to deliver the most comprehensive and differentiated private wealth offering in Australia," JBWere chief executive Michael Saadie said.

Jeff Brunton has been named in the newly created role, which he will perform in tandem with his existing responsibilities as head of portfolio management.

Brunton has been with HESTA since July 2021, having previously served as deputy chief investment officer at AMP Capital. He's also previously worked as chief investment officer of AMP Life, and spent close to 16 years in a variety of investment roles at QIC.

His new position was effective March 30. He was also reappointed to the board of the Australian Sustainable Finance Institute around the same time.

HESTA chief investment officer Sonya Sawtell-Rickson said the deputy investment chief role was created both in recognition of Brunton's contributions and the need for the team to evolve.

"Congratulations to Jeff on his well-earned appointment as deputy chief investment officer. The new role recognises his outstanding contribution to HESTA's investment management function and leadership, as well as the evolution of our team as we navigate an increasingly complex global environment," she said.

"This appointment strengthens HESTA's senior leadership bench and will support our engagement with companies locally and globally as we strive to improve retirement outcomes for members..."

With more than 10 years of experience in retail distribution, equities research and client advisory, Lester will be responsible for servicing wholesale clients throughout New South Wales and the Australian Capital Territory.

He will be based in Sydney and report to head of wholesale sales, ex-North America Fawaz Rashid.

Lester was most recently at Allan Gray Australia, working in wholesale distribution. He also worked as research manager at GLG, and held roles with Mainstreet Financial Group and TDU Link. In his spare time, Lester is an officer cadet in the Australian Army Reserve, Ausbil noted.

Rashid said Lester is a valuable addition to the Ausbil team.

"His experience across retail distribution and investment management, coupled with a thorough understanding of the needs of wholesale clients, positions him well to contribute meaningfully to our business. We look forward to welcoming him as we continue to cultivate long-term partnerships with investors across the region," he said.

For his part, Lester said he is excited to be taking on the role.

"I'm very pleased to be joining Ausbil, given its strong reputation for active management and long-standing relationships with clients," he said.

"I look forward to working with the broader distribution team to support our wholesale partners across NSW and the ACT."

They replace Mary Macken and Richard Flitcroft, who stepped down at the end of March.

Saville was nominated by the Law Society of New South Wales, while Tucker represents the United Services Union.

Saville is currently a partner at Mallesons, previously King & Wood Mallesons. She has worked there for about 15 years.

Meanwhile, Tucker works for the United Services Union as industrial officer and on special projects. He has previously worked for Slater and Gordon and Shine Lawyers.

"Richard and Mary served as legalsuper directors for a combined 11 years and we thank them for their dedication and contribution during that time," legalsuper chair Kirsten Mander said.

"On behalf of the board, we welcome Moira and Joel to legalsuper and look forward to their contribution as we continue our focus on delivering strong, sustainable outcomes for members across the important metrics of investment performance, member satisfaction and service delivery excellence."

Anthony Cribb joined GESB last year in the newly created executive position, tasked with overseeing the GESB corporate services business unit, including legal, secretariat and governance functions, information security, records and data management, risk and compliance, IT services, and people and culture.

He had been brought on to support the fund's new strategy following changes to Western Australia's State Superannuation Act 2000, which enabled GESB to accept superannuation guarantee payments from non-public sector employers.

"While he was not looking for alternative employment and was focused on helping us deliver our runway of initiatives, he was presented with an opportunity at Hancock Energy that he accepted," a GESB spokesperson said.

Cribb joined the fund from the Pilbara Ports Authority, where he had been executive general manager of corporate affairs and governance. He also previously worked for the Australian Gas Infrastructure Group as general manager of corporate services, general counsel and company secretary.

The fund is currently recruiting for his replacement and said it hopes to make an announcement soon.

In the meantime, chief financial officer Melissa Haddleton has taken on the role on an interim basis. Acting as chief financial officer during this time will be manager, tax David Cagorski, the spokesperson confirmed.

His departure follows that of GESB's long serving chief executive, Ben Palmer.

Just last week Palmer was announced as the managing director and chief executive of the newly launched Affinity Funds Management, a subsidiary of Perth-based corporate advisory Affinity Capital Group.

Palmer was with GESB for 14 years, with close to a decade of it spent as chief executive.

GESB's chief investment officer Paul Taylor is now heading up the fund in an acting capacity while Western Australia's Public Sector Commission hunts a new chief executive.