Australian Fund Head Moves to Mercer

Campbell McCulloch is the first of three new executives who will fill the void left by longtime deputy CIO Phil Graham.

Campbell McCulloch

Phil Graham, deputy chief investment officer Pacific at Mercer, will be retiring at the end of the month, and the consulting firm announced the appointment of one of three new chiefs that will fill Graham’s shoes.

Campbell McCulloch will join Mercer as its new head of fund implementation, delegated solutions Pacific in the fourth quarter, Mercer confirmed. He is leaving the Australian Future Fund, where he was the head of investment operations since 2007. Prior to the A$141 billion ($102 billion) sovereign wealth fund, he was a portfolio manager at Vanguard Investment Australia for 10 years.

At his new job, McCulloch will direct the implementation for the Mercer Pacific Funds operations, which centers on investments in Australia and New Zealand.

Kylie Willment, Mercer Pacific’s CIO, said that Campbell’s “outstanding leadership skills and proven track record” will allow Mercer to carry out its investment decisions efficiently. “While it’s with mixed emotions that we say goodbye to Phil, the appointment of Campbell is a fantastic win for Mercer.”

Graham, the exiting deputy CIO, worked at Mercer for 11 years. His 40 years of financial experience include associate director at Australian advisory firm Deloitte Access Economics, a portfolio strategist at Brisbane’s government investment company QIC, and several economist roles, most notably at the Reserve Bank of Australia, his first job out of college. 

The other two senior roles Mercer will add following Graham’s departure will be the head of investment strategy and the head of portfolio management. They will be announced at a later date. Mercer has not provided comment as to who is in the running for these opportunities.

McCulloch and the Future Fund were unable to be reached for comment.

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