Senior hires slow as firms go offshore

Superannuation funds expanding their offshore investment teams have slowed hiring for senior domestic roles, according to a July 2026 market update from Kaizen Recruitment. The change follows moves by AustralianSuper, Australian Retirement Trust, and Aware Super to open offices in London.

Demand for top executives remains steady but more selective. Eight chief executives left their roles in the last financial year, including departures at Mercer, REI Super, and ESSSuper. Recent appointments at Prime Super, First Super, and legalsuper show continued emphasis on long-term investment capability, though the pace of senior hires has eased.

Private markets drive specialized hiring

The report shows private markets—especially private credit, infrastructure, and real assets—are now the main driver of recruitment. AustralianSuper announced plans last week to grow its private credit portfolio to $20 billion within four years, aiming to provide more stable retirement income for members.

This move into illiquid assets has increased demand for roles in portfolio monitoring, valuations, fund accounting, and performance analytics. Funds are also bringing in lawyers with experience in complex transactions as they handle more investment functions internally. The report explains that internalizing these functions, along with growth in private credit and alternative assets, is creating demand for legal experts in funds management and infrastructure.

The shift requires closer oversight, and compliance requirements have grown with allocations. That means more hiring in middle-office teams, risk analysts, and legal staff who understand the regulations around private deals.

Advice teams grow as funds address service gaps

Super funds are also expanding their financial advice teams. New legislation, Delivering Better Financial Outcomes (DBFO), has pushed them to provide better guidance to members, a service that remains costly and difficult to access elsewhere. The report notes these roles are attracting advisers looking for stability after years of industry changes.

“Superannuation funds have been among the more active hirers, expanding advice teams to meet compliance requirements and rising member priorities,” the update states.

Outside superannuation, wholesale distribution remains the strongest area for recruitment. Firms are targeting private wealth advisers, brokers, and family offices.