The $6 billion Qantas Super has recruited from the local office of JP Morgan for its head of investment operations.
Peter Savage joined the corporate fund on June 1 to oversee a “wide agenda of investment operations,” allowing chief investment officer Andrew Spence to focus primarily on investing, Jane Torney, chief executive officer of Qantas Super, said.
This would involve overseeing the fund’s custody and administration arrangements, and other aspects of the implementation of its investment strategy.
Torney previously oversaw the fund’s investments until Spence joined in July 2008.
Savage was formerly vice president of business analytics within the local arm of JP Morgan Worldwide Securities Services (JP Morgan WSS).
Jane Perry, head of JP Morgan WSS in
Australia, said Savage was an asset to the business, and the custodian sought an internal candidate to replace him.
“It is incredibly important that industry retains investment administration knowledge locally,” she added.