The $91 billion fund has doubled down on its data security, alongside enhancing its investment strategy, with two key appointments.
HESTA has announced the appointment of Michael Blayney to the role of general manager of dynamic asset and Nick Catherall as general manager of information security.
The former, according to HESTA, is a newly created role within its investment management team, reporting to portfolio design lead Dianne Sandoval.
As general manager of dynamic asset, Blayney will help lead the dynamic asset allocation team, responsible for delivery of HESTA’s dynamic asset allocation investment strategy and process.
He joins the fund from Pendal where he served as head of multi-asset for seven years and before this led First State Super’s investment strategy.
Blayney has also held roles with Perpetual and Towers Watson.
“Michael’s depth of experience in investment management and superannuation will be a tremendous asset, allowing us to further refine our investment strategies,” HESTA’s chief investment officer Sonya Sawtell-Rickson said.
“His proven track record in dynamic asset allocation will undoubtedly strengthen our investment capabilities and support us in navigating the changing market environment to best serve our members’ interests.”
Blayney said on his appointment: “I am excited to join HESTA and lead the dynamic asset allocation team. This is a fantastic opportunity to contribute to a great team in a mission-driven organisation, motivated to improve the retirement incomes of members.”
Moreover, as general manager of information security, Catherall will report to senior technology and digital strategist, Peter Lawrence.
Catherall brings more than two decades of experience in financial services to the role, spanning security strategy, risk management, and cyber resilience.
Namely, he previously served as regional chief information security officer (CISO) at CHUBB, CISO at AVIVA, and head of information security management at ANZ.
Commenting on Catherall’s appointment, Lawrence said: “Nick is a fantastic addition to the team.
“His industry experience and proven ability to align cybersecurity with business objectives, while focusing on compliance and resilience, will be instrumental in further shaping our information security strategy.”
“I feel fortunate to be joining such a passionate and purpose-driven team and I look forward to contributing to the great work they are doing, and building on these strong foundations as we navigate the evolving digital landscape,” Catherall said.
Speaking on the two additions to HESTA’s leadership team, CEO Debby Blakey said the appointments support the $91 billion fund’s focus on keeping members’ data safe and its strategy to deliver long-term performance through active investment strategies.
“These appointments help ensure we can continue to be well-positioned as a leading global investor, maintaining our great track record of performance, and will further strengthen our digital security capability,” Blakey said.
“Michael has the skills and capabilities we are looking for in helping inform our investment approach through market volatility, which is critical to delivering strong long-term returns for members. Nick’s experience will be invaluable in driving forward our information security strategy, with the ongoing protection of member data of the utmost importance.”
On the same day that HESTA announced the expansion to its technology and digital strategy team, it was revealed that a number of Australia’s largest superannuation funds have suffered a breach with thousands of user accounts compromised, in what is being called a co-ordinated cyber attack.
So far, the super funds affected by the incident include Rest, Hostplus, Australian Retirement Trust, AustralianSuper, and Insignia, the owner of MLC.
While members of the affected super funds are being urged to check their accounts for suspicious activity, media reports suggest that the threat actors targeted accounts in the pension drawdown phase, as those accounts can request lump sum withdrawals.
