Vanguard overhauls retail team

Vanguard Australia has outlined a new structure for its two retail direct businesses leading to two new executive hires and a promotion.

Renae Smith joins the business and the Australian executive team from AIA as chief of personal investor.

Smith will lead a new division responsible for Vanguard's retail strategy, client growth, member and investor experience, and operations.

At AIA, she ran customer strategy, customer experience, AIA's health and wellbeing proposition, customer contact and digital channels.

Further, Lakshi Prabhakaran has been promoted from senior risk manager to head of enterprise risk Australia, replacing Curt Jacques.

Prabhakaran will also join the Australian executive team.

For his part, Jacques will lead a new product offer division of the business.

In the new role, he will oversee the ongoing development and offer design of Vanguard's Australian product suite, including Vanguard's personal investor platform and superannuation products.

He will also be responsible for product pricing, portfolio health, governance, disclosure and business enablement.

Vanguard Australia's head of human resources, Maxim Tambling, will move to Vanguard's Pennsylvania headquarters where he will lead the talent strategy and development function for the Group.

He will be replaced by Rebecca Supierz who will join from Latitude Financial Services, where she was general manager of people and communications.

Commenting on the moves, Vanguard Investments Australia managing Director, Daniel Shrimski said the firm is taking the next step in continuing to enhance the service and experience provided to clients and advisers.

"The financial needs of Australians continue to evolve, and we're working to evolve our business capability and service offering to meet these needs", he said.

"We've spent the past few years building out a high quality, low cost, whole-of-wealth solution for all Australians while continuing to enhance our offer to financial advisers."

Shrimski said Vanguard Super has $500 million in assets under management.

The local head confirmed that Balaji Gopal will continue to lead distribution, adviser proposition and the development of the adviser direct platform, while Shannon Nutter will continue to lead the super team before returning to the US later this year.