New US role for Vanguard Australia distribution head

Vanguard Australia has announced that Michael Lovett, head of distribution, will take on a role leading the firm's U.S. Registered Investment Advisor distribution channel.

Lovett joined Vanguard in 2011 as head of intermediary distribution, before being appointed head of distribution in 2013.

Vanguard has also announced that Daniel Shrimski, chief financial officer (CFO) in Australia since 2011, will become the divisional CFO of the firm's U.S. retail investor group.

Commenting on the appointments, Vanguard Australia managing director Colin Kelton said: "Michael and Daniel's respective work in Australia has been a significant driver of the business' phenomenal growth across the past six years. The U.S. based teams they will be leading stand to benefit greatly from their expertise and international perspective."

Vanguard's current national sales manager of key accounts, platforms, and research, Matthew Lumsden, will succeed Lovett as head of distribution in Australia. The search for a new CFO will commence in the coming months.