AustralianSuper announced the appointment of Damian Moloney as Head of Investments (Europe) earlier this year as the Fund looks to expand investment opportunities in European markets.
Mr Moloney will oversee the development of AustralianSuper’s offshore investments platform to support the investment program. He will lead the investment program in the London office.
AustralianSuper’s Chief Investment Officer, Mark Delaney, said Mr Maloney would provide a high level of experience and expertise as the Fund continues to grow.
AustralianSuper is on target to manage 50% of member assets internally within five years building on the 30% currently managed internally. We estimate the internalisation is delivering savings of around $100 million a year to members through lower costs.
‘Damian’s experience and knowledge of the investment sector is exceptional and we are very fortunate to have him on the team,’ Mr Delaney said.
‘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.’
Mr Moloney joins the Fund from Frontier Advisors, where he has been the Chief Executive Officer since 2011.
‘This is a great opportunity for me to help AustralianSuper’s 2.2 million members achieve their best possible retirement outcome,’ Mr Moloney said.
‘It’s an exciting time to join the Fund as it continues its program 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.’