Vanguard hires new head of distribution
Vanguard Australia has announced the promotion of Matthew Lumsden to the new role of head of distribution which has followed the departure of two senior leaders who will take on new roles at the company's US headquarters.
Lumsden, the company's current national sales manager — key accounts, platforms and research, would now join the Australian executive team and he would be responsible for the distribution of Vanguard's managed funds and exchange traded funds (ETFs) to retail and institutional investors.
He had more than 15 years of experience in the financial services industry and, before joining the company in 2010, he had worked for Lazard Asset Management as the head of project management in London and head of legal and compliance in Tokyo.
Vanguard Australia managing director, Colin Kelton, said: "Matthew joined Vanguard Australia in 2014, bringing with him diverse experience gained in Vanguard's European and Asian offices. He will be a valuable addition to the Australian executive team as we continue to build out our offering for Australian investors and advisers".
Lumsden's nomination followed Michael Lovett's promotion, current head of distribution in Australia, to a new role in which he would lead the company's US registered investment adviser distribution channel.
Along with Lovett, chief financial officer (CFO) in Australia, Daniel Shrimski, had been promoted to take on the role of the divisional CFO of the US retail investor group.
"These moves highlight the global growth of our business, and the strength of leaders in Australia. More and more we look to our senior leaders as a group of talented individuals who can bring their talents to other parts of the organisation," Kelton said.
Vanguard Australia also announced that in the coming months, when the executives would begin their transition to the new roles in the US, it would launch a comprehensive search to recruit a new CFO for its domestic business.
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