Cbus Super has appointed Anne Moal as its first head of direct debt and illiquid credit as the $73.5 billion fund's debt portfolio hits over $1 billion.
Reporting to head of debt and alternatives Linda Cunningham, Moal will have primary responsibility for day-to-day portfolio management and credit oversight for the fund's internal direct debt strategy.
She will also oversee external managers in the illiquid credit space and the counterparty credit work carried out on the financial institutions Cbus has exposure to through its trading activities.
Moal joins Cbus from Perpetual, where she spent eight years, most recently as head of corporate high yield.
Before that, she worked in the global markets division of Deutsche Bank, where she spent ten years, most recently as a director focusing on origination and underwriting of sub-investment grade debt.
Previously she held roles at Bankers Trust International, Banque Nationale de Paris, and Credit Lyonnais.
"This is an important appointment, and we are delighted to secure someone with Anne's experience and capability," said Cbus chief investment officer Kristian Fok.
"With more than 25 years' experience in credit and fixed income markets globally, Anne's insight and strategic focus will be a strong benefit to this increasingly important part of Cbus' investments strategy."
Cunningham noted that to have grown the portfolio to over $1 billion in three years is a testament to the hard work of the Cbus team.
"We have supported corporates of different shapes and sizes, including lending to support construction projects during the pandemic when credit was harder to come by," she said.
"Anne will be a great addition to the team, and I look forward to working with her as we continue to grow the size and scope of the internal portfolio and our broader credit illiquid credit strategies."
For her part, Moal looks forward to contributing to both the expansion of the internal direct debt strategy and the broader work in the credit space that Cbus does with external managers.
"The hybrid approach to investing is a clear demonstration of Cbus' focus on the best possible retirement outcome for the members."
This is the second 'new role' Cbus has created recently as the investment process becomes more complex and quantitatively driven.
In April, Ciaran McBride was appointed head of investment options management - a new role in the fund's portfolio design team.