Colonial First State names data and AI group executive

Colonial First State has appointed Sid Baidwan as its group executive of data and AI.

Image credit: LinkedIn.

The Australian superannuation and investment fund said Baidwan had joined the organisation in June.

He was most recently the chief AI officer of financial services firm Smartgroup, and also previously led AI transformation at Suncorp.

Baidwan’s appointment to the CFS role was first revealed in a LinkedIn post back in May, but iTnews was only able to confirm details of the appointment this week.

A CFS spokesperson said that Baidwan will “lead Colonial First State's AI and data strategy, to accelerate how CFS translates AI into value for members, advisers and our people.”

“Through his leadership roles locally and globally, Sid brings broad expertise to the role, spanning technical engineering, commercial strategy and AI across financial services and technology,” the spokesperson said.

In a LinkedIn post this week, Baidwan wrote that it is “an incredibly exciting time to lead … AI and data capabilities” at CFS. 

“Within the next few years, Australia’s superannuation system is projected to become the world’s second-largest retirement savings pool. Coupled with an ageing population, we face a profound responsibility—and opportunity—to innovate,” he wrote.

“Data and AI will play a critical role in how we evolve. 

“They will enable us to better serve our Advisers and customers, help them grow their wealth, and support them through the transition to a secure retirement.”