AustralianSuper eyes European investments with new hire

AustralianSuper eyes European investments with new hire

AustralianSuper has signalled its intent to expand its investment opportunities in European markets with the appointment of Damian Moloney.

As the superannuation scheme’s head of investments in Europe, Moloney will oversee the development of AustralianSuper’s offshore investments platform. He will also lead the investment programme in the London office.

AustralianSuper chief investment officer Mark Delaney said Moloney would provide a high level of experience and expertise as the scheme continues to grow. It is on target to manage 50% of member assets internally within five years.

Delaney said: “Damian’s experience and knowledge of the investment sector is exceptional and we are very fortunate to have him on the team.”

“With nearly half of AustralianSuper’s member assets now invested overseas, it is very important that we have a local presence in markets where we are investing. Damian will provide day to day leadership for our London investments team.”

Moloney joins AustralianSuper from Frontier Advisors, where he has been CEO since 2011. He will start at AustralianSuper this month and will relocate to London in early 2019.

Moloney said: “This is a great opportunity for me to help AustralianSuper’s 2.2 million members achieve their best possible retirement outcome.”

“It’s an exciting time to join the fund as it continues its programme of investment internalisation. With a large amount of capital deployed in markets and assets in Europe and the USA it is vital that AustralianSuper has a local presence so that we can ensure we are getting the best possible outcomes for members.”

“I’m looking forward to joining the AustralianSuper team and contributing to members’ retirement outcomes.”

Prior to working at Frontier, Moloney spent 14 years at Industry Fund Services, which he joined as an investment consultant before eventually becoming CEO of the key investment management subsidiary, Industry Funds Management, which he led for 11 years.

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