Damien Webb, deputy CIO of Aware Super, is to join smaller Australian superannuation fund Brighter Super.
Webb, who relocated to the UK to lead Aware Super’s international real assets and private markets investments, will be returning to Sydney to become CIO at Brighter Super in April.
His appointment comes after Brighter Super’s previous CIO Mark Rider left in December. Interim CIO David O’Donnell will become deputy CIO.
Webb led the expansion of Aware Super’s UK expansion, opening the A$210bn (€122bn) superannuation fund’s London office in 2023 and establishing business management, governance and investment functions.
He was a member of the management investment committee and established direct investment capabilities and strategy across infrastructure, real estate and private credit.
Brighter Super was created through the merger of three Queensland superannuation funds – LGIASuper, Energy Super and Suncorp Super – between 2021 and 2023, and today’s has about A$37bn in assets.
Brighter Super CEO Kate Farrar said: “As Brighter Super continues to grow in scale and sophistication, Damien’s experience in building multi-asset class portfolios and global direct investment platforms will be invaluable. I am certain he will continue our strong investment performance and help the fund reach the next stage of our growth and maturity.”
Webb said: “Brighter Super represents a fantastic opportunity to work with an experienced board, Kate Farrar and a highly regarded investment team with a strong track record, and to further develop a best practice ‘total portfolio’ approach – truly managing the fund as one integrated portfolio, one team, one fund.”
Webb said his recent experience in London would provide Brighter Super with a global perspective at a time when markets and geopolitics were increasingly complex and interconnected.
“While Brighter Super has a strong focus on investing in Australia and Queensland, a significant portion of members’ assets are invested offshore, and experience in international markets, governance and portfolio construction is increasingly important,” he said.
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