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Betashares continues NZ expansion with new appointment

3 minute read

The new appointment follows Betashares’ launch of five locally domiciled portfolio investment entity funds for New Zealand investors earlier this year.

Experienced financial services executive Hugh Stevens has been named as executive director of Betashares New Zealand to drive the ETF provider’s growth efforts in the country.

According to Betashares, Mr Stevens will be responsible for a range of growth, distribution, and strategic initiatives to assist its New Zealand expansion.

Mr Stevens has more than 20 years of experience in financial services and funds management across structured debt, project finance, alternative assets, superannuation and portfolio investment entity (PIE) funds.

He joins Betashares from Smartshares, a subsidiary of New Zealand’s Exchange (NZX), where he served as chief executive officer for more than five years, during which the firm grew from $2.7 billion in funds under management to over $10.5 billion.

Prior to this, Mr Stevens held senior local and global roles at Fundrock (previously IIS), BNP Paribas Securities Services, and JPMorgan Chase.

He has previously been a member of the board of the NZ Financial Services Council and currently serves on funds industry boards including the Government Superannuation Fund Authority and Anglican Church Pension Board.

The appointment of Mr Stevens follows the launch of five PIE funds across Australian, global and ethical equities, as well as fixed income, by Betashares in May this year.

Commenting on the appointment, Betashares CEO Alex Vynokur said the firm was excited to welcome someone of Mr Stevens’ calibre to the team.

“We believe that Hugh’s deep understanding of funds management and financial services, along with his local knowledge and relationships will be invaluable as we build our New Zealand business,” he said.

“Betashares is committed to becoming an integral part of the New Zealand financial services ecosystem. Our appointment of Hugh to work alongside our existing team is another sign of our commitment to this goal as we look to enable New Zealand financial advisers and their clients to improve their investment outcomes.”

Mr Stevens said that he was looking forward to building on Betashares’ footprint in New Zealand by launching a number of growth initiatives for the business.

“I’m looking forward to assisting New Zealand investors and their advisers to build and protect wealth using the resources and capabilities of the broader Betashares business,” he said.

“While Betashares is already well known and highly regarded in New Zealand, numerous growth opportunities exist to add value to the New Zealand market with new and innovative solutions purpose-built for this market. I’m particularly excited to be joining Betashares and working with the team to build on their work and success to date.”

Within the past two months, Betashares also unveiled its plan to enter the Australian super industry via an acquisition and launched a new platform for self-directed investors.

These efforts form part of the firm’s long-term strategy to continue expanding into the financial services sector.

Jon Bragg

Jon Bragg

Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.