Aware Super engages global hunt for new CIO, with | Australian Markets

Aware Super has laid out its succession plan for long-serving chief investment officer (CIO) Damian Graham, with Australia’s third greatest super fund set to nominate a new CIO earlier than the top of this 12 months.

Graham, who has served because the super fund’s investment chief for more than 12 years (together with its earlier incarnation, State Super), will transition to Aware’s London workplace to function head of worldwide.

In his new function, Graham might be tasked with driving the fund’s growth ambitions and building out its presence throughout the UK and continental Europe.

Aware additional flagged the incumbent CIO’s potential retirement within “the next few years” as half of a 12-month succession plan. He will stay as CIO earlier than relocating to London on the finish of this 12 months.

Graham mentioned he was “excited and invigorated” to proceed with the fund and lead its global operations.

Aware, Australia’s third greatest super fund by property (managing more than $190 billion) and fifth by membership, opened its first worldwide workplace in London in late 2023, with a dedication to invest £5.25 billion (AU$10.9 billion) within the UK and continental Europe over 5 years. Already, Aware says, it has dedicated more than £2 billion (AU$4.2 billion) to this goal.

Current head of worldwide, Damien Webb, who joined the new London workplace at its opening, will return to Sydney in late 2025.

Aware Super chief government Deanne Stewart recognised Graham for his “outstanding contributions” to the fund, together with his “instrumental role… in delivering consistently strong results for the benefit of our members”.

He was additionally famous for his appreciable contributions to launching the fund’s worldwide enlargement strategy in 2023.

Among Graham’s highlights as CIO, as outlined by Aware, embrace the building out of the fund’s 150-strong in-house investment workforce, the launch of Project Odin, a three-year uplift program for its inner digital investment platform, and the recalibration of its investment strategy to a Total Portfolio Approach.

“We are absolutely delighted that Damian will stay with the Fund and has accepted this role as head of international to lead our global activities based out of London, which will further elevate our international profile and performance as we actively pursue our strategy as a global asset owner.”

Stewart added: “This fastidiously managed transition ensures Aware Super continues to benefit from Damian’s in depth investment expertise as we proceed to construct our global presence and guarantee we retain the Fund’s sturdy tradition as we broaden internationally.

Aware’s default High Growth fund has delivered 8.98% returns over the previous 10 years, evaluating favourably in opposition to the industry average of 8.5% (as at finish of 2024).