HESTA appoints growth assets head, refocuses investment operations

Industry superannuation fund HESTA has appointed Steven Semczyszyn as the head of growth assets.

The fund also told Financial Standard that they were developing an internalised equities function, set to be implemented in 2021.

Semczyszyn joins from JCP Investment Partners, where he held several roles including chief investment officer over the course of nine years. He also held roles at Willis Towers Watson and J.P. Morgan.

HESTA chief investment officer Sonya Sawtell-Rickson told Financial Standard they would also be internalising cash and fixed interest asset classes in 2022.

"These changes mark the start of an exciting new chapter for our investment team," Sawtell-Rickson said.

"Our forward strategy embraces a hybrid model - combining internal management alongside the best external asset management partners the world has to offer - to manage a growing and significant pool of assets."

Reporting from Elizabeth McArthur at Financial Standard contributed to this report.