HESTA reshuffles investment team, appoints new GM

HESTA has promoted Luke Galloway as their new general manager for strategic tilting.

The appointment is part of a new investment team structure for the industry fund.

Galloway joined HESTA in a short-term role in late 2019 from Deutsche Bank where he was director of multi-asset solutions. He spent nearly 13 years with VFMC as portfolio manager strategy,

HESTA's chief investment officer, Sonya Sawtell-Rickson, said she was thrilled to welcome Galloway to a permanent role in the organisation. She said the appointment is, "part of our push to build out our internal investment capability and deepen relationships with key partners that will help us continue to deliver strong, long-term returns for our members."

Galloway will report to the head of portfolio design, a role HESTA is still looking to fill.

"Luke will work closely with our trading partners and our Investment Execution team to manage and minimise execution risks, while ensuring portfolios are responsive to market conditions and opportunities," said Sawtell-Rickson.

Galloway said he's excited to continue his work with HESTA. "It's exciting to join the fund at this early stage of its program to build out internal capability and embed a total portfolio approach that focuses on strong collaboration across various teams."