Australia’s Equip Hires New CIO Amid Fund Growth

Hostplus deputy CIO Andrew Howard will take over the Equip position in November.

Brendon Thorne/Bloomberg

Brendon Thorne/Bloomberg

Amid a year of growth, Equip, a major Australian superannuation fund, has found a new chief investment officer.

According to a Tuesday announcement, the AUD $30 billion (US$21.9 billion) fund, which manages assets for Catholic Super and other organizations, has hired Andrew Howard, the current deputy CIO at Hostplus.

Equip’s mandate has grown in 2021. In February, the organization announced that it had merged with Toyota Super, which managed AUD $860 million. Less than two weeks later, Equip announced its intention to merge with BOC Super, which manages assets for the gas and welding equipment company.

According to its Tuesday announcement, Equip expects to grow to AUD $50 billion under management by 2025. The organization’s assets under management sat at just AUD $16 billion in July 2019. In August of that year, Equip created a joint venture with Australia’s Catholic Super, which had managed AUD $10 billion at the time.

Catholic Super’s CIO, Anne Shelley, became the investment head of both organizations. She spent two years in the role before leaving for her current CIO gig at AMP, an Australian investment manager.

Before joining Hostplus, Howard worked for roughly three years as the CIO at VicSuper. According to the announcement, Howard helped develop VicSuper’s responsible investment strategy, which led to the organization’s recognition as a PRI Global Leader in 2019.

“I am thrilled Andrew is joining our fund as CIO,” Equip CEO Scott Cameron said in a statement. “His wealth of experience will help deliver long-term value for our members while we continue to execute on our growth strategy.”

Howard’s prior work experience also includes a stint as CIO at Treasury Group (which is now known as Pacific Current Group), and multiple roles at Mercer.

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