Craig Stevens joined Vanguard as head of strategic growth for the superannuation business the U.S.-based money manager plans to launch in Australia over the coming year.
The role is new, confirmed Robin Bowerman, a principal and head of corporate affairs with Vanguard in Melbourne. Mr. Stevens is based in Melbourne and reports to Michael Lovett, the head of Vanguard's super business.
Vanguard said in late 2019 it would launch a superannuation offering in Australia. Garnering needed licenses and approvals takes anywhere from 12 to 18 months, making mid-2021 an aspirational target, Mr. Bowerman said.
Mr. Stevens had been senior consultant at Sydney-based manager Pinnacle Investment Management Group, where he served briefly this year after more than a decade as CEO of Brisbane-based Austsafe Super.
At the end of March 2019, Austsafe — which managed roughly A$2.5 billion ($1.7 billion) for 100,000 members — was merged into Brisbane-based Sunsuper, creating a super fund with A$64 billion and 1.4 million participants.
