Superannuation fund Hesta has announced a number of changes to its leadership structure with a new recruitment process for heads of portfolio management and portfolio design roles and the appointment of Steven Semczyszyn to lead development of an internalised Australian equities function as Hesta’s general manager – growth.
At the same time, Hesta’s chief investment officer Sonya Sawtell-Rickson said that the internalisation program would be implemented in Australian equities by 2021 and would be underway in cash and fixed interest asset classes in 2022.
“Our forward strategy embraces a hybrid model – combining internal management alongside the best external asset management partners the world has to offer – to manage a growing and significant pool of assets,” she said.
Semczyszyn, who joined from boutique fund manager JCP Investment Partners where he served as a chief investment officer, said: “I intend to bring my 20 years of experience building investment processes, equity strategies and team capability to create strong connections directly with capital markets as this will support achieving better outcomes for Hesta members.”
The new roles, which would both report directly to the chief investment officer, would have pivotal leadership responsibilities and would aim to help deliver the overall investment program and portfolio strategy.
Following this, the new head of portfolio design would be responsible for the top-down aspects of the portfolio, including portfolio construction and risk analysis as well as economic and market research, while the head of portfolio management would look after internal and implemented teams across growth, unlisted and defensive market segments.