Funds Management News

HESTA hires JCP CIO to build equities team

Posted by Anton Murray Consulting on . Posted in Funds Management News

Investment Magazine

HESTA has hired Steven Semczyszyn to build an in-house Australian equities team as part of a broader program that will see the $55 billion superannuation fund also internally manage cash and fixed interest strategies. Named general manager of growth, Semczyszyn was the former chief investment officer of Australian equity fund manager JCP Investment Partners before it wound down last year after losing several key mandates. HESTA’s new Australian equities team is expected to be implemented by 2021, while plans for cash and fixed interest will get underway by 2022.

“These changes mark the start of an exciting new chapter for our investment team,” HESTA CIO Sonya Sawtell-Rickson said in statement.“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.” James Harman, who was promoted to the role of general manager for listed assets in 2015, will continue to oversee the remaining asset class exposures and will take on additional responsibilities as he transitions into a new role as general manager of investment corporate strategy.

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