AustralianSuper has taken an important step in its global growth ambitions with the appointment of Damian Moloney as the fund’s Deputy Chief Investment Officer (CIO), effective 1 July 2023.
Moloney, based in AustralianSuper’s London office, has for the past five years had direct responsibility for the build out of the European and US offices, a key part of its global growth strategy.
He will continue to have responsibility for the Fund’s international offices as part of his new Deputy CIO role, which also includes global responsibility for strategy and oversight for the investment group.
“With the fund forecast to grow from its current almost $300 billion to over $500 billion in member assets under management over the next four to five years, Damian’s appointment as Deputy CIO is an important step that positions us to deliver simplicity and quality at global scale,” says AustralianSuper Chief Investment Officer Mark Delaney.
AustralianSuper is increasingly focussed on building its global operations and in-house investment capability, with around 75 per cent of member’s money expected to be managed by internal teams within a decade.
“Damian will play a pivotal role in developing and implementing our model for investing and operating globally in an integrated and efficient way. We expect the global team to grow from the current 100 staff to around 300 over the next three years, with around 130 in New York and 160 in London and a small team in Beijing,” Delaney added.
AustralianSuper currently has around half of its around $300 billion invested outside Australia, with around $85 billion invested in the United States and almost $40 billion invested in the United Kingdom and Europe.
Moloney joined AustralianSuper in 2018, leading the global investment team from London. Prior to joining the fund, he served as CEO of Frontier Advisers and IFM Investors.
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