Bell initiated a CEO search in January to replace Nick Fels, who will move to the role of chief operating officer, and has now appointed Lovett who will start on 15 April 2024.
Lovett spent more than a decade at Vanguard and launched its superannuation offering last year. He also developed the Fidante boutique strategy at Challenger where he worked for six years.
Vanguard Super was launched in November 2022 after several delays but Lovett announced he would depart just three months later to “move on to the next chapter in his career”.
The superannuation offering is now run by chief of personal investor Renae Smith, who was appointed in July to work on the business’ retail strategy, client growth, member and investor experience, and operations.
Lovett‘s focus at Bell will be on enhancing and growing its business capabilities while delivering superior investment performance, market insights, and client reporting.
As of 31 March 2024, Bell has $5.5 billion in assets under management.
Bell AM chair Christine Feldmanis said: “We are excited to welcome Michael to BAM as our new CEO. His extensive background in funds management and leadership positions will be invaluable as we continue to expand our presence in Australia and international markets.”
Lovett said: “I am thrilled to be joining BAM at such a pivotal time in their business. The team has done an exceptional job building the business to this point, and now we have a wonderful chance to take things to new heights.”
In February, BAM announced the expansion of its investment research team with three new additions.
The firm, which has been in operations since 2003, has $5.2 billion in assets under management.
