Higher education super fund UniSuper has added two former Merrill Lynch executives to its equities team.
UniSuper has announced its appointment of Matt Spence to the position of senior analyst – infrastructure and Andrew Hill to senior analyst – financials.
Both analysts make the move from Bank of America Merrill Lynch, where Mr Spence was managing director and Mr Hill was head of financial institutions research (Australia).
According to a statement by UniSuper, this was part of a broader trend of a “transition from sell-side to superannuation investment”.
Commenting on the appointments, UniSuper chief investment officer John Pearce said he was delighted with the calibre of the talent UniSuper had attracted.
“I think it speaks volumes for UniSuper’s reputation as a market leader, and that reputation creates its own momentum,” he said in a statement.
“We have managed to build a team-based and competitive culture that is delivering excellent returns for our members, and I expect that Matt and Andrew will prove to be valuable additions.”
Over 60 per cent of UniSuper’s funds are managed in-house, the statement said.
Mr Spence will commence his role in December this year while Mr Hill will begin in January 2018.
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