Ok let’s be clear, there is no one path to lead you to a Chief Investment Officer (CIO) position. However, if recent appointments of CIOs in superannuation are anything to go by, then spending part of your career in investment consulting will certainly help your cause.
The recent appointment of Leigh Gavin from Frontier Advisors to LUCRF Super and Graeme Miller from Willis Towers Watson to Telstra Super continues the trend of superannuation funds hiring directly from investment consulting firms. Other recent appointments include Greg Clerk from JANA to Head of Investment Strategy at Hostplus.
The appointment of Leigh Gavin now makes it 6 current CIO’s who spent their formative years at Frontier Advisors. Kristin Fok at CBUS, Sam Silica at Hostplus, Ed Smith at LegalSuper, Michael Wyrsch at Vision Super and Matt Kempton at ESSuper. This is a huge endorsement for the quality of Frontier’s business and their people if ever there was one.
Obviously Willis Towers Watson has also produced some talented investment consultants, and Graeme Miller’s 16 years’ investment consulting experience will equip him well to lead Telstra Super’s investment team.
Superannuation funds hire specialists from investment consulting firms for a variety of reasons:
Depth and breadth of investment research experience.
Experience with setting investment strategy, detailed understanding of asset liability modelling and strategic asset allocation.
Extensive experience presenting to and working with investment committees and trustees.
Their experience working with and advising multiple superannuation funds gives them rich insights into best practise processes, fund structures and investment managers.
Often superannuation funds will hire consultants that already work with them due to their understanding of the fund and the familiarity with their investment team, executives and broader trustee office.
It is interesting to observe the increased interest from funds management professionals wanting to work in investment consulting. Perhaps they are realising that the skills and experience from working in investment consulting can help pave the way to one day becoming a CIO.
