HESTA investment leader moves into key risk role

Andrew Major
ANDREW MAJOR
HESTA - Chief Risk and Compliance Officer
APPOINTMENT
HESTA
Date: January 2020
Position: Chief Risk and Compliance Officer

HESTA's general manager of unlisted assets will have a new role when he returns from holiday. Andrew Major has been appointed to the newly-created role of chief risk and compliance officer.

Major, who has been with HESTA for more than 10 years, was previously responsible for managing the fund's investments in infrastructure, private equity, property, and other alternative investment strategies like impact investments.

CEO Debby Blakey said they were fortunate to have such a strong internal candidate to take on the crucial new role. "Andrew has a deep knowledge of HESTA members, our business and strategy. He brings a unique perspective to his new role, drawing on his extensive investment expertise in unlisted assets and strong legal background, as a practising solicitor in both private practice and in-house [roles] early in his career."

Risk and compliance roles have been a focus for a number of funds in recent months, something Blakey acknowledges was their driving influence. "In the wake of the Hayne Royal Commission we have seen how critical a strong culture and trust are for financial institutions," she said.

Major is currently chair of the Australian Investment Council, and represents HESTA on several Fund Advisory Boards.

He said that he was excited to take on this new role, which would allow him to utilise his existing, extensive skills and experience while developing further his capability and understanding of the broader superannuation environment.