Vanguard Australia announces enhancements to its retail business and new executive roles
Melbourne, 18 May 2023: Vanguard Australia today outlined a new client-aligned structure bringing together its two retail direct businesses (Superannuation and non-Superannuation) and expanding its product division, alongside the introduction of two new executive roles.
“We are uniquely positioned to offer Australians a whole-of-wealth proposition and by evolving our organisational structure, we are taking the next step in continuing to enhance the service and experience we provide our clients and advisers,” Vanguard Investments Australia Managing Director, Daniel Shrimski, said.
Renae Smith will join the business and the Australian executive team from AIA in July, as Chief of Personal Investor, leading a new division responsible for delivering on Vanguard Australia’s ambitious growth agenda in the retail (direct to consumer) market. This division will have accountability for the retail strategy, client growth, member and investor experience, and operations.
Current Head of Risk, Australia, Curt Jacques, will move to lead a new Product Offer division of the business, as Head of Product Offer, with responsibility for the ongoing development and offer design of Vanguard’s Australian product suite, including Vanguard’s Personal Investor platform and Superannuation product offer, in addition to overseeing product pricing, health of the portfolio, governance, disclosure and business enablement.
Lakshi Prabhakaran, has been appointed into the role of Head of Enterprise Risk Australia, replacing Curt Jacques, and joining the Australian executive team.
“The financial needs of Australians continue to evolve, and we‘re working to evolve our business capability and service offering to meet these needs”, said Mr Shrimski.
“Whether its policy, tax, economic, or market forces at play, Australians increasingly have to consider the right avenues of investment both inside and outside of the super system in order to effectively progress their financial goals.
“We’ve spent the past few years building out a high quality, low cost, whole-of-wealth solution for all Australians, while continuing to enhance our offer to financial advisers.
“It's just the beginning for Vanguard Super, with a strong start seeing over $500m in assets under management to date, while our investor platform service has gone from strength to strength through the ongoing enhancement of our product and service offering.
“The changes we are announcing today are focused on continuing to strengthen this value proposition through bringing together the teams serving our retail clients in a cohesive and streamlined business structure, geared up for future growth,” said Mr Shrimski.
“Having led the strategic development and rollout of Vanguard’s Personal Investor platform since 2020, Balaji Gopal will continue to serve on the Australian executive team as acting Head of FAS, leading distribution, adviser proposition and the development of the adviser direct platform, while Shannon Nutter who has played a key leadership role developing, launching and leading Vanguard Super, will continue to lead the Super team to implement this change and provide strategic consultancy to the Australian business prior to her planned return to the U.S. later this year,” he said.
The business also announced a rotational shift for Vanguard Investments Australia’s Head of Human Resources, Maxim Tambling, as part of a well-established business practice of developing strong senior leadership expertise. Maxim has taken up a role in Vanguard’s Pennsylvania headquarters leading the Talent Strategy and Development function for the Vanguard Group.
Maxim will be replaced by Rebecca Supierz who will join the business and the Australian executive team next month from Latitude Financial Services, where she was General Manager, People and Communications.