Fund People as at 9 April 2019
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New Appointments
Pinnacle welcomes new head of retail, marketing director, director of listed products
Pinnacle Investment Management has appointed Ramsin Jajoo as head of retail, moving across from head of asset management solutions for Morningstar in the United States.
Jajoo replaces Adrian Whittingham, who has moved into an executive director role at the company. Also joining the company is Chelsey Vaux as director of marketing, and Chris Meyer, director of listed products.
QIC appoints new chair
Current UniSuper and Wayside Chapel chair Ian Martin is the new chair at QIC, succeeding Don Luke, who is retiring.
Ernst & Young appoint super and insurance expert as partner
Lisa-Marie McKechnie is now a partner at Ernst & Young’s financial services law division, after moving on from a role at law firm Mills Oakley. Mills Oakley has many superannuation funds as clients, which McKechnie oversaw.
Mine Super appoints new CIO
Seamus Collins is the new chief investment officer at Mine Super, after acting in the role since David Bell departed in late 2018. Prior to this Collins was the executive manager of portfolio implementation at the superannuation fund.
J.P. Morgan welcomes new CEO
Robert Bedwell is the new chief executive at J.P. Morgan Australia and New Zealand, replacing Paul Uren. Uren is moving into a new role as co-head of the investment banking coverage for J.P. Morgan Asia Pacific and Hong Kong. Bedwell has been at the company since 2011.
AMP Capital appoints new local real estate head
Rebecca Smith is the new head of real estate debt, in a newly-created role at AMP Capital. Smith was most recently Future Fund’s property director.
Future Fund creates new deputy CIO role
Sue Brake is Future Fund’s new deputy chief investment officer of portfolio strategy. Brake joins Future Fund from Willis Towers Watson as a senior investment consultant.
Rice Warner changes to leadership team
Andrew Boal is the new chief executive officer at Rice Warner, with Michael Rice stepping down, but remaining an executive and board member. Rice is stepping down to focus on work for a few key clients, while working on public policy initiatives. Boal moves from Willis Towers Watson as head of Australasia.
New head of Australasia at Blackrock
Andrew Landman is succeeding Dominik Rohe as head of Australasia, moving from Hong Kong to Sydney. Rohe is the new head of the Latin America region. Landman remains head of the Asia Pacific client business until a replacement is found.
FSC welcomes new board members
The Financial Services Council has appointed several new members to the board of directors.
Alex Wade, AMP chief executive of wealth management
Andrew Tobin, Challenger chief financial officer
Jason Yetton, leading Commonwealth Bank’s wealth demerger
David Bryant, Australian Unity wealth CEO, group CIO, and current board director at FSC will replace outgoing deputy chair Brad Cooper
Sunsuper welcomes AustSafe Super’s CEO in new role after merger
AustSafe Super’s former chief executive Craig Stevens has moved into a new role as head of strategy at Sunsuper after the merger was successfully completed.
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Departures
Aberdeen loses head of fixed income
Nick Bishop has moved into a new role at Gresham Funds Management Group, leaving Aberdeen Standard’s Australian fixed income team. Adrian McCabe is replacing Bishop, from Singapore, where he also heads Aberdeen Standard’s Asian fixed income operations.
BUSSQ puts long-standing CIO ‘on leave’
David O’Sullivan, chief investment officer at BUSSQ and former chief executive, is ‘on leave’ with Simon Mather appointed as a temporary CIO after the trustee bypassed the CEO to make the decision. No further information is currently available.
IOOF loses MD in Royal Commission take-down
Chris Kelaher is leaving IOOF after the Royal Commission fallout. Kelaher is currently on leave, which officially ends in July. During the Royal Commission, it was revealed that IOOF had left some clients in costly legacy products, despite board members identifying the conflicts of interest.
In late 2018 APRA imposed licence conditions and disqualified five of IOOF’s executive team, including Kelaher. In January 2019, Australian Ethical divested its $8.8 million stake in IOOF, and ANZ revised its wealth sale agreement with IOOF. IOOF is facing a possible class action from investors who purchased IFL stock between May 2015 and 6 December 2018.
Alan Griffiths has been appointed as IOOF’s new independent, non-executive chair, after acting in the role since December 2018.
