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10 September 2025 by Adrian Suljanovic

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VFMC investment managers defect

  •  
By Stephen Blaxhall
  •  
2 minute read

VFMC's investment team suffers a further blow as two leave to join former boss.

Two senior Victorian Funds Management Corporation (VFMC) investment managers are jumping ship from the $41 billion institutional fund manager.

Global Small Companies, Emerging Markets and Global Large Companies (acting) investment director David Roberts and Hedge Funds investment director Keith Dickie are joining former VFMC colleagues at ipac.

Former VFMC chief investment officer (CIO) Jeff Rogers is ipac's current CIO while another former VFMC staffer, Mary McLaughlin, is there in a research role.

Roberts joined VFMC in September 2002 and has 17 years experience in the investment management industry. Before VFMC he was an investment strategist with BNP Paribas Asset Management.

 
 

Dickie has 16 years experience in fixed interest and currency markets, joining VFMC in May 1999. Prior to VFMC he was senior investment manager at Colonial Investment Management.

Former VFMC investment director international equities Elly Lumsden also left the group last year to become the Future Fund's investment director equities. 

VFMC is owned by the Victorian Government and invests on behalf of 14 Victorian Government clients.