Vanguard Investments Australia (Vanguard) has hired two regional sales managers and will recruit four business development managers (BDMs) to support its growing adviser business.
"The growth in the adviser business has been strong for the past three years, as advisers have embraced the core-satellite portfolio construction approach and seen the advantages to their business and client outcomes of using low-cost index funds," Vanguard retail head Robin Bowerman said.
"Vanguard sees an opportunity to build on that and as a result is dedicating more sales and marketing resources to the area."
Vanguard will recruit two BDMs in Sydney, one in Brisbane and one in Perth, and has created two new roles to support the larger adviser sales team, a company spokesperson said.
Manuel Damianakis has been appointed new regional sales manager and national account manager for the northern region, with Mark Carlile appointed to the same role for Victoria, Tasmania, South Australia and Western Australia.
Damianakis, who has been instrumental in establishing Vanguard's strong adviser support base in New South Wales and Queensland, has been with the company for two years.
Carlile joins Vanguard from Goldman Sachs JBWere, where he worked as state manager, national key account manager and in research and platform relationship roles.
Earlier this week, Vanguard marketing head Colin Bold said he will soon leave the company due to personal reasons.
Bowerman will caretake Bold's role until a replacement is found and take part in a review of Vanguard's marketing division.
