Melbourne-headquartered Bell Asset Management hired Michael Lovett as chief executive officer, a year after he left his position as head of superannuation at Vanguard, a spokesperson confirmed.
Lovett succeeded Nick Fels who has moved to the role of COO, a newly created position.
Lovett joined Bell Asset Management on April 15 and focuses on growing the firm’s business capabilities to expand its presence in Australia and international markets, the company said in a statement.
The global equities boutique manager had A$5.6 billion ($3.6 billion) in assets under management as of March 31.
Lovett spent over 11 years at Vanguard, most recently as its head of superannuation, which he left three months after launching Vanguard Superannuation. Before that, he spent 3 1/2 years in the U.S. leading the firm’s registered investment business.
Vanguard had A$12.6 trillion in assets under management globally as of Dec. 31. Vanguard Superannuation surpassed A$1 billion in assets in January and is led by Renae Smith, chief of personal investor, a Vanguard spokesperson said.
