Mr McGavigan joined Australian Unity on 6 February 2023 from Vanguard where he was the Global Head of Investment Management Solution Delivery.

Mr McGavigan has more than 35 years’ experience leading and developing global teams across the financial services sector, including 13 years at Vanguard (both in Australia and United States) and other senior positions at NAB and Perpetual Limited.

As Executive General Manager—Operations, Mr McGavigan will play a critical role in enhancing investor experience and delivering shared operational capabilities across Wealth & Capital Markets via a centralised function. This includes responsibility for the platform’s information technology, project management and delivery, and operational compliance functions.

Esther Kerr-Smith, Chief Executive Officer—Wealth and Capital Markets, said Mr McGavigan’s extensive product management and service delivery experience across the sector will be an invaluable asset to the platform.

“Michael joins us during an exciting time for Australian Unity and Wealth and Capital Markets as we implement our long-term growth strategy,” said Ms Kerr-Smith.

“His exceptional track record leading large scale transformational business and technology programs will help us embed a culture of innovation across our platform—enabling us to continue improving the delivery of critical services to support our strategic ambitions.”

The appointment of the Executive General Manager—Operations position follows changes to Wealth and Capital Markets announced in September 2022, which included the establishment of a dedicated social infrastructure business and centralisation of the platform’s funds management business.

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Dr. Fernandes joins the 180-year-old mutual organisation with more than two decades of experience in senior investment leadership roles, including 17 years with Colonial First State, Colonial First State Global Asset Management and First State Investments, and a proven track record in investment stewardship and responsible investment programs.  Most recently he has held a number of independent advisory roles in superannuation and wealth management.

He will report to Esther Kerr-Smith, who was appointed W&CM CEO in July this year following three years as Group Executive – Finance & Strategy.

Ms Kerr-Smith said that Dr. Fernandes’s leadership experience, which spans global investment, product and customer markets, would augment Australian Unity’s investment capability and serve its members, customers and partners during a period of heightened economic and social uncertainty.

“Joe’s key priority will be the ongoing stewardship and development of Australian Unity’s investment activities.

This will include capturing investment opportunities that align with our strategic agenda as a provider of health, wealth and care products and services that both meet the wellbeing needs of our members and customers, and deliver community and social value.

Joe will also lead and guide Australian Unity’s Investments team which, along with our joint venture and investment partners Platypus Asset Management, Altius Asset Management and Acorn Capital, is responsible for funds under management and advice of more than $8 billion.”

Dr. Fernandes said: “I’m pleased to join a purposeful organisation at a critical time in its development, and I’m looking forward to working with Esther and the Australian Unity team to create value for members and customers.”

The stand-alone CIO position is new to the W&CM business and followed Ms Kerr-Smith’s decision to separate the role from the W&CM CEO’s responsibilities to enhance accountabilities and to create a more clearly delineated investment decision-making function.

Dr. Fernandes will commence with Australian Unity on 7 September 2020.

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Ms Kerr-Smith joined Australian Unity in 2017 as Group Executive, Finance & Strategy, where she has led the Group’s finance function and overseen the shaping and implementation of the Group’s strategic objectives. She has also led Australian Unity’s engagement with a range of market stakeholders to advance its capital markets, community value and social infrastructure agendas.

In announcing the appointment, Australian Unity’s Group Managing Director, Mr Rohan Mead said: “We look forward to Esther moving to the Wealth & Capital Markets CEO role. She has already demonstrated that she is a passionate leader with a deep capacity for value creation and impact. Esther will be a great asset to Australian Unity as we move into our next phase of growth, especially as we continue to pursue our social infrastructure agenda.”

Ms Kerr-Smith’s prior experience covers financial services, infrastructure and human services design and delivery. She was a senior executive with the National Disability Insurance Agency— leading the market stewardship and commissioning functions and has held senior roles at strategy consulting firm Boston Consulting Group and within Macquarie Group’s infrastructure division.

Mr Mann joined Australian Unity in 2012 and has held numerous senior roles within the Finance and Strategy function.  In 2015 as Group Treasurer, he oversaw the refinancing of the Group listed debt and was instrumental in issuing Australia’s first simple corporate bond.  Prior to this appointment, Mr Mann was the Deputy Head of Finance and Group Chief Financial Officer where he led the Group transformation program for the Finance function.

Mr Mann’s prior experience includes a decade in London, predominantly working on large scale integration and transformation programs with Merrill Lynch Investment Managers, Lloyds Banking Group and the Royal Bank of Scotland.

Announcing Mr Mann’s appointment, Mr Mead said: “Darren has played a significant role in shaping the Group’s finance function in the eight years he’s been with Australian Unity.  This appointment recognises Darren’s capability to steward the company’s finances and shape our strategic growth agenda. Darren is an adept leader and will continue to motivate the Group through its next growth phase.”

Ms Kerr-Smith’s appointment follows David Bryant’s resignation as CEO of W&CM earlier this year and Mr Mann’s appointment comes after the appointment of Ms Kerr-Smith to the role of CEO, Wealth and Capital Markets, with both appointments to take effect on 13 July 2020.

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