Industry fund legalsuper has appointed Richard Sanajko to the newly-created role of internal investment manager and is searching for an independent chair for its investment committee.
"What we've basically done is create for the first time a dedicated investment role that picks up the responsibility for anything to do with investments," legalsuper chief executive Andrew Proebstl said.
"Others will continue to have a supporting role and helping with elements of investments, but with Richard's arrival, we have someone who sees across all elements of the investment process."
Sanajko has previously worked as an economist, investment manager and consultant in Melbourne, London and Zurich.
Legalsuper is planning to add more resources to the investment team.
"We are also looking at employing an independent chair of the investment committee," Proebstl said.
"We've got to the point where we settled on a recruitment firm and the firm is conducting the search process at the moment. That person would be able to pick up some elements of a chief investment officer-type role as well."
Although the move sees legalsuper creating a first dedicated role to investments, the fund has no plans to bring elements of investment management in-house.
"We have brought a very small part of it in-house, which is our cash. We place term deposits directly with banks," Proebstl said.
"[But] more broadly for our portfolio, [in-house management] is something that is a fair way down the track for us, I would say."
