Meet our Executive Leadership Team

Our Executive Leadership Team brings diverse investment, financial and business leadership to VFMC. VFMC’s executive team has a strong commitment to workplace diversity and is led by Kate Galvin.

Kate Galvin

Chief Executive Officer (CEO)

Kate joined VFMC as CEO in October 2021.

Kate commenced her career with eight years of commercial legal practice, before transitioning into management.  Kate has led businesses in global and Australian companies across financial advice, asset management, private, corporate and business banking.  Before joining VFMC, Kate was at NAB where she was responsible for NAB’s Health business, leading a national team of corporate and business bankers to provide banking and financial services to the health sector. Prior to NAB, Kate held multiple roles with JBWere and Goldman Sachs JBWere, including Managing Director, JBWere and Executive Director and Partner, Goldman Sachs JBWere.

Kate holds Bachelor’s degrees in Economics and Law and is a graduate of the Australian Institute of Company Directors. She is currently on the Board of the Mercy Health Foundation.

Russell Clarke

Chief Investment Officer

Russell joined VFMC in May 2017 as Chief Investment Officer (CIO) where he is responsible for overseeing the management of more than $70bn on behalf of a number of Victorian public authorities.

Russell joined VFMC from Mercer where he was the Global CIO (Mainstream Assets) since 2011 and CIO (Pacific) since 2003. This role saw him overseeing all discretionary equity, listed property, fixed income and multi-asset portfolios worldwide and was specifically responsible on a day-to-day basis for all portfolios based in the Pacific region. Russell also chaired the Mainstream Assets Global Investment Committee and Global Strategic Research Committees. Prior to this, he spent six years in Mercer Australia as an investment consultant and head of Investment Research.

Russell also gained eight years of investment and financial services experience working as manager of the investment research function for one of Australia’s largest superannuation funds, UniSuper, and as head of Investment Performance Analytics for a major fund manager.

Russell holds a bachelor of economics from Macquarie University. He is a fellow of the Institute of Actuaries of Australia and a senior associate of the Financial Services Institute of Australasia, and has lectured and tutored in investment subjects for both organisations.

Sally Collins

Chief Operating Officer

Sally joined VFMC as Chief Operating Officer (COO) in May 2017 with more than 20 years experience in financial services with NAB, CBA and AXA.

Her more recent roles have been as General Manager Business Management/COO for both MLC’s Wealth business and NAB’s Business Bank.

Sally brings to VFMC deep operations and services experience across investment operations, business performance, risk management and transformation. Her recent focus has been leading multiple functions to deliver improvements across customer experience, investment processes, first line risk management, data and analytics, and technology enabled transformation.

Sally holds a Bachelor’s degree and Graduate Diploma in Psychology and a Diploma in Financial Planning. She is a member of the Australian Institute of Company Directors and a non-executive director of Autism Awareness Australia. She is also a published author.

Johanna Neilsen

Head of People

Johanna joined VFMC in November 2018 as Head of People.  Prior to this, Johanna spent nine years at Cbus Super Fund as the Executive Manager People & Culture, developing and leading the people strategy, initiatives and practices of the Fund as part of the Executive team.

Johanna also spent six years at ESSSuper and prior to this worked in human resources teams across the manufacturing and professional services sectors in both Australia and London.

Johanna holds a M.HRM from Deakin University.

Lucy Carr

Chief Risk Officer

Lucy joined VFMC in December 2019 as Interim Chief Risk Officer where she is responsible for the risk and compliance function. She has more than 19 years experience in financial services across Vanguard, AXA and EY.

Prior to joining VFMC, Lucy spent eight years at Vanguard Australia in various executive roles including Head of Human Resources, Head of Enterprise Risk Management and Head of Fund Financial Services, as well as serving as a member of Vanguard Australia’s Board of Directors for two and a half years.

Lucy brings to VFMC deep experience in risk management, operations and leadership.

Lucy holds a Bachelor’s degree in Commerce from the University of Melbourne.

Sarah Dunn

Head of Client and Market Development

Sarah joined VFMC in September 2020 as Head of Client and Market Development where she is responsible for client and stakeholder management, market development, Performance and Communications.

Sarah has more than 25 years’ experience in financial services, investment management and trusteeship across the UK, Europe, North America and Asia Pacific.

Prior to joining VFMC, Sarah spent 18 years with HSBC in a range of leadership positions across investments, wealth management and private banking, latterly leading HSBC Private Bank, Canada before joining ANZ in Melbourne in 2010.  At ANZ, Sarah held various senior executive roles including MD of ANZ Trustees, Country CEO Cook Islands and Country COO Taiwan.  Sarah’s final role at ANZ was the Head of Group Services prior to assisting Latitude Financial Services to establish their customer remediation and conduct and culture programs.

Sarah holds a Bachelor of Classics, Latin and Modern Greek from the University of Leeds, UK and Modern Greek at the University of Thessaloniki, Greece. Sarah is also an Associate of the Chartered Institute of Bankers.

VFMC news

VFMC New Chief Executive Officer pending Lisa Gray’s Retirement

In April 2021, VFMC announced that Chief Executive Officer, Ms Lisa Gray, would be...

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Chief Executive Officer Lisa Gray’s Interview with CEO Magazine

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VFMC Announces New Director

The Chairman of Victorian Funds Management Corporation (VFMC), Mr James MacKenzie, is pleased to...

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Chief Investment Officer Russell Clarke’s Interview with II Network

VFMC’s Russell Clarke:  Russell Clarke believes the whole can be greater than the sum...

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