Vanguard Australia names ASIC Commissioner as new head for Office of the General Counsel
Vanguard Australia names ASIC Commissioner as new head for Office of the General Counsel
The American registered investment management company The Vanguard Group, Inc. has appointed Sean Hughes, a former commissioner of the corporate regulator, to lead its Australian Office of the General Counsel.
The Vanguard Australia's Office of the General Counsel incorporates the legal and compliance functions of the business. Hughes will also join the firm's Australian executive team.
Hughes is currently serving as a Commissioner with the corporate and financial services regulator Australian Securities and Investments Commission (ASIC), which he had joined in 2018.
He is slated to complete his tenure as the ASIC commissioner on February 3.
Hughes has had a long and distinguished career that saw him serve as GC for Tabcorp, chief risk and legal officer for UniSuper, and chief executive of the Financial Markets Authority in New Zealand.
He had also served at National Australia Bank, Australia and New Zealand Banking Group and was a partner at the Australian law firm Herbert Geer & Rundle, which now is known as Thompson Geer.
"We are grateful for the contribution Sean has made to ASIC in his role as commissioner and wish him well in the next stage of his career," ASIC chair Joe Longo said about Hughes' departure.
Daniel Shrimski, Vanguard Australia managing director said that Hughes brings with him a significant depth of experience in law, governance, regulation, financial services, wealth management and risk.
"Following the recent launch of Vanguard Super and a successful three years since the business introduced Vanguard Personal Investor, a platform for investors to invest directly with Vanguard, we have progressed in our goal of providing Australians, and the advisers that serve them, with a high-value offer that supports their financial goals both inside and outside of super," Shrimski said.
With Hughes' appointment, Vanguard Australia is confident about continuing to focus on building teams led by strong leaders who, it said, will ensure that the business remains aligned with the new and changing needs of the firm's clients into the future, to offer them the best chance of investing success.
