Former Vanguard Super head lands asset manager CEO role
Bell Asset Management has appointed a new chief executive, hiring Michael Lovett who launched the superannuation offering at Vanguard.
Bell initiated a chief executive search in January to replace Nick Fels who will step down from the role after six years as CEO and has now appointed Lovett who will start on 15 April 2024. Lovett’s focus at Bell will be on enhancing and growing its business capabilities while delivering superior investment performance, market insights and client reporting.
Fels joined Bell 15 years ago and held a variety of roles including chief operating officer and company secretary as well as president of Bell Asset Management (USA).
Lovett spent more than a decade at Vanguard and launched its superannuation offering. He also developed the Fidante boutique strategy at Challenger where he worked for six years.
Vanguard Super was launched in November 2022 after several delays, but Lovett announced he would depart just three months later to “move on to the next chapter in his career”.
The superannuation offering is now run by chief of personal investor, Renae Smith, who was appointed in July to work on the business’s retail strategy, client growth, member and investor experience and operations.
As of 31 March 2024, Bell has $5.5 billion in assets under management.
Bell AM chair, Christine Feldmanis, said: “We are excited to welcome Michael to BAM as our new CEO. His extensive background in funds management and leadership positions will be invaluable as we continue to expand our presence in Australia and international markets.”
Lovett said: “I am thrilled to be joining BAM at such a pivotal time in their business. The team has done an exceptional job building the business to this point, and now we have a wonderful chance to take things to new heights.”
AUTHOR
Laura Dew
Recommended for you
Sydney-based alternative fund manager East Coast Capital Management has formed its first advisory council as it enters its next phase of growth.
With 40 per cent of advice practices looking to increase their ETF usage, the next frontier being embraced is smart beta ETFs with flows doubling in July, providers have said.
Australian ETFs saw flows of $5.8 billion in July, more than double the previous month, and adviser adoption is tipped to help total flows reach $50 billion by the end of the year.
Pinnacle’s London affiliate, Life Cycle Investment Partners, has secured over $15 billion in FUM in its first year and achieved profitability, the firm’s fastest affiliate to do so.
