Betashares expands NZ office

Betashares has appointed a top investment and superannuation executive to drive ongoing growth efforts for its New Zealand business.

The former head of SmartShares, and current deputy chair of the Government Superannuation Fund Authority, Hugh Stevens will join Betashares as executive director.

Reporting directly to the ETF manager's local chief commercial officer, Stevens will be responsible for a range of growth, distribution, and strategic initiatives as it looks to expand in New Zealand.

Essentially, he will play a key role in the company's growth in New Zealand, working closely with Vinnie Wadhera who will continue to lead New Zealand's client service and distribution strategy.

During his five stints at SmartShares, the business grew from $2.7 billion in funds under management to over $10.5 billion.

Stevens has 20 years of experience in financial services and funds management, working across structured debt, project finance, alternative assets, superannuation and PIE funds.

Before Smartshares, he held senior local and global roles at FundRock, BNP Paribas Securities Services and J.P. Morgan Chase.

In addition to his executive roles, Stevens is a former NZ Financial Services Council board member and continues to sit on the Anglican Church Pension Board.

The appointment comes after the growing fund manager launched five passive funds across Australian, global and ethical equities and fixed income in May 2023.

These new funds have been added to several financial adviser investment platforms.

Announcing the appointment, Betashares chief executive Alex Vynokur, said Stevens' appointment was the next step for the Kiwi business.

"We believe that Hugh's deep understanding of funds management and financial services, along with his local knowledge and relationships, will be invaluable as we build our New Zealand business," Vynokur said.

"Betashares is committed to becoming an integral part of the New Zealand financial services ecosystem," he added.

Commenting on his appointment to Stevens said he was looking forward to building on the already meaningful footprint that Betashares has in New Zealand by commencing a series of growth initiatives for the business.

"I'm looking forward to assisting New Zealand investors and their advisers to build and protect wealth using the resources and capabilities of the broader Betashares business," Stevens concluded.

"While Betashares is already well known in New Zealand, numerous growth opportunities exist to add value to the New Zealand market with new and innovative solutions purpose-built for this market."