For release 22 September 2005
Melbourne: Vanguard Investments Australia Ltd (Vanguard) has strengthened its management team with a key appointment to its senior ranks.
Michael Houlihan has been appointed Manager - Retail Products and Technical Services. The role involves overseeing the management of the existing retail product range and the development of new products and services. Michael will also play a key role in supporting financial advisers on technical issues relating to DIY super and index funds. He will report directly to Vanguard's head of retail business, Mr Robin Bowerman.
Vanguard Australia's Managing Director, Mr Jeremy Duffield, said "We are delighted to welcome Michael Houlihan to Vanguard. He will contribute immensely to the expansion of Vanguard's product base, focusing specifically on the DIY super market. He brings a breadth of knowledge in the areas of product management and technical services. We look forward to Michael's contribution."
Mr Houlihan has more than 20 years experience in the financial services industry, including his most recent position as Technical & Marketing Director at Cavendish Superannuation Pty Ltd. Prior to this, he held various senior management roles with Goldman Sachs JBWere Investment Management.
"Vanguard represents one of the more exciting opportunities in my career", Mr Houlihan said. "Vanguard has established itself as an expert in index funds management and the door is now open to make some real progress in the DIY super market. I'm looking forward to working with Vanguard, providing technical and strategic expertise in the product development sector," he added.
Mr Houlihan commenced his role on 5 September 2005.
Notes for editors:
Vanguard Investments Australia Ltd is a wholly owned subsidiary of The Vanguard Group, Inc., which is based in the U.S. and currently managers approximately US$882 billion (A$1.2 trillion) for more than 18 million individual and investor accounts as at 31 August 2005. In Australia, Vanguard has established a reputation as an index specialist, managing A$34.4 billion in index funds, for both institutional and retail investors.
