People Moves: VFMC promotes long-serving Executive to Head of Infrastructure

07/09/2023

By Elizabeth Fry (Melbourne) - Victorian Funds Management Corporation ('VFMC') has promoted Stephen Baker to Head of Infrastructure following the retirement of Adrian Best.

On joining the Victorian government's investment specialist - which manages funds for dozens of public authorities in the state - Baker worked in the client services and private market teams at VFMC before moving to the infrastructure team in 2011. There, he served as a portfolio manager and then senior portfolio manager.

Before joining VFMC, he worked in the funds management industry in London as a client services executive at Western Asset Management and account manager at Citigroup Asset Management.

"Stephen has been a valued member of VFMC for nearly 17 years," said VFMC investment chief Russell Clarke.

"His experience will contribute to further enhancing the infrastructure portfolio, and his promotion to head of infrastructure underscores the organisation's commitment to long-term goals and the development and confidence in our talented people."

Baker added: "I am excited for the opportunity to lead a fantastic group of Infrastructure investment professionals at VFMC and to continue to deliver great investment outcomes for our clients."

Separately, Rob Mao has joined VFMC's equity team as an Investment Analyst position with Victorian Funds Management Corporation. Mao brings three years of fund management experience from previous positions with Vanguard and Dimensional Fund Advisors