Damien Webb has been handed a new role as head of international at the A$150 billion ($104.6 billion) Aware Super, effective immediately, the fund said in a statement on Thursday.
Mr. Webb was deputy chief investment officer and head of real assets at the Sydney-based super fund. He retains the deputy CIO position as he transitions into the new role. A spokeswoman said the firm is still working out subsequent team structures with regards to whether a replacement will be named for his previous titles.
Mr. Webb is the first person appointed to the international team and will be based in a new European office, the spokeswoman said. She declined to provide further information. More details will be shared soon, she said.
Mr. Webb will build the fund's presence first in Europe, then in other offshore markets, the statement said. He is also responsible for growing relationships that support the origination and ownership of assets.
"We will expand our footprint into other developed and important capital markets and furnish it with a world-class investment team," Mr. Webb said in an email.
"I'll be delivering the operational infrastructure to establish Aware Super's first permanent presence overseas while also deepening our relationships with current and future investment partners with a focus on infrastructure, private equity and property," he said.
Mr. Webb has been with Aware Super since 2014. He was promoted to deputy CIO and head of real assets in September 2021.
The superannuation industry in Australia has been undergoing consolidation as regulators place pressure on funds to deliver returns to its pension members. A series of mergers has resulted in mega funds of more than A$200 billion, which have sought to expand overseas in search of new investment opportunities.
