HESTA CIO to step down as part of new investment strategy

HESTA has announced changes to its investment strategy, following a review from Willis Towers Watson, that will include the establishment of an investment committee and changes to the investment leadership team.

Current CIO, Rob Fowler, will step down from his role and take on the newly-created position of executive - investment execution. In this role he will lead investment operations, investment monitoring and performance, and ESG. A new CIO will be appointed as part of the review.

Commenting on the leadership reshuffle, HESTA CEO, Debby Blakey, said: "Both of these executive roles are critical to the execution of our strategy...Rob's experience, and his strong, in-depth analytical style is well suited to [his new] role. He will also continue to focus on our ESG integration and leadership; something which he is very passionate about and an area in which he has deep knowledge and insight."

Fowler added: "I am looking forward to working with the new CIO and implementing the strategy as it is a significant step forward for the Fund and entirely aimed at delivering the best possible investment outcomes for members."

HESTA said that the recruitment process is underway for both the new CIO and an independent director who will become the inaugural chair for the new investment committee.