The $50 billion industry superannuation fund has picked its new general manager of strategic tilting, as part of its new investment team structure.
Luke Galloway has been promoted to the position, after joining HESTA in November as an investment adviser.
Previously, he was Deutsche Bank’s director of multi-asset solutions, where he led the build-out of a customer cross-asset alternative risk premia portfolio.
He is said to have more than 16 years’ experience working across macro and investment research, portfolio and exposure management and investment internalisation.
Chief investment officer Sonya Sawtell-Rickson said the appointment continued the rollout of the fund’s investment team restructure that kicked off in March.
“I’m thrilled to welcome Luke permanently to the team as part of our push to build out our internal investment capability and deepen relationships with key partners that will help us continue to deliver strong, long-term returns for our members,” Ms Sawtell-Rickson said.
“Since joining us, Luke has demonstrated his extensive experience and skills in supporting the team with derivative trading and dynamic asset allocation decisions through a period of significant market volatility.”
Mr Galloway will report to the head of portfolio design, which HESTA is still recruiting for. He will be held responsible for managing dynamic asset allocation, rebalancing and overlay processes.
“Luke will work closely with our trading partners and our investment execution team to manage and minimise execution risks, while ensuring portfolios are responsive to market conditions and opportunities,” Ms Sawtell-Rickson said.
Prior to working at Deutsche Bank, Mr Galloway was at Victorian Funds Management Corporation where he led the internalisation of a number of portfolios, including dynamic asset allocation, macro rates and foreign exchange.
He commented: “I have thoroughly enjoyed my time in HESTA’s investment team and I’m excited to step into this new role to support the [fund] to deliver strong investment performance for our member.”
“It’s exciting to join the fund at this early stage of its program to build out internal capability and embed a total portfolio approach that focuses on strong collaboration across various teams.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].