Vanguard Super's top exec exits

Vanguard Australia's head of super Michael Lovett will leave the business just three months after launching its first product.

Lovett will depart Vanguard at the end of the month.

In November 2022 Vanguard launched an accumulation product including a lifecycle MySuper default fund along with index-based diversified and single-sector investment options.

Commenting on the sudden departure, Vanguard Australia managing director Daniel Shrimski said: "Michael's expertise, motivation and vision were instrumental in developing a superannuation fund which encapsulates Vanguard's decades of expertise and experience in managing retirement savings to deliver on our mission to reshape super for the benefit of Australians and provide financial peace of mind."

He added that Lovett plans to take some time out before moving on to the next chapter in his career.

"He leaves Vanguard with our thanks and best wishes for the future," Shrimski said.

Shrimski said plans for the succession of this role are well-progressed and that Vanguard's current head of proposition and experience Shannon Nutter, will be appointed interim head while a replacement is found.

Lovett took on the head of super role in early January 202, returning from Vanguard's head office in the US to lead Vanguard's planned superannuation offer.

There, he led the registered investment advisor channel as part of the broader financial advisory services business

He has done a stint as general manager for Boutique Partnerships at Challenger and as distribution head at HSBC.