Vanguard Australia adds exec roles

Oksana Patron

19 May 2023

Vanguard Australia has announced changes to its retail business, by bringing together its two retail direct businesses (superannuation and non-super), and an expansion of its product division along with an introduction of two new executives roles.

Renae Smith will join the business and the Australian executive team from AIA in July, as chief of Personal Investor, leading a new division responsible for delivering on Vanguard Australia’s growth agenda in the retail (direct to consumer) market. This division will have accountability for the retail strategy, client growth, member and investor experience, and operations.

Following this, current head of risk, Australia, Curt Jacques, will move to lead a new Product Offer division of the business, as Head of Product Offer, with responsibility for the ongoing development and offer design of Vanguard’s Australian product suite, including Vanguard’s Personal Investor platform and Superannuation product offer, in addition to overseeing product pricing, health of the portfolio, governance, disclosure and business enablement.

Lakshi Prabhakaran, has been appointed into the role of Head of Enterprise Risk Australia, replacing Curt Jacques, and joining the Australian executive team.

“The changes we are announcing today are focused on continuing to strengthen this value proposition through bringing together the teams serving our retail clients in a cohesive and streamlined business structure, geared up for future growth,” Vanguard Investments Australia Managing Director, Daniel Shrimski, 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.

“It’s just the beginning for Vanguard Super, with a strong start seeing over $500m in assets under management to date, while our investor platform service has gone from strength to strength through the ongoing enhancement of our product and service offering.”