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HESTA builds out investment leadership 1 minute read 29 April 2021
The $60 billion industry fund has made the appointment as it looks to build on its “ambitious” internalisation program to shift investment management in-house in 2022.
Stephen Howard will join HESTA as general manager for defensives. Mr Howard brings more than 20 years’ experience in financial services to the role, including over 10 years at Vanguard where he held the role of APAC head of fixed income and “significantly and strongly” increased FUM.
“Throughout the COVID-19 pandemic we’ve witnessed first-hand the critical role health care providers play within our community. I’m thrilled to be joining HESTA and to have the opportunity to help our members achieve their investment and retirement savings goals,” Mr Howard said.
Sonya Sawtell-Rickson, HESTA chief investment officer (CIO), said his appointment would continue to build on the internalisation program that would see management of fixed interest and cash begin to shift in-house in 2022.
“Stephen will be leading the next phase of our internalisation journey, as we move to internally manage fixed interest and cash instruments,” Sawtell-Rickson said.
“It’s exciting to have Stephen come on board as he has a proven track record of investing significant portfolios, managing highly successful teams and leading strategic thinking.”
Howard said he looked forward to joining HESTA and being part of an innovative and leading investment team with strong growth plans.