This article originally appeared in CityWire Australia.
This week’s moves in the industry…
Magellan chair takes medical leave
Magellan Financial Group founder and chief investment officer Hamish Douglass will take a leave of absence citing ‘intense pressure and focus’ on his professional and private life.
Douglass and his company have been making headlines, with the latest news compounding falls in the share price and outflows from the fund.
With Douglass taking leave of absence, co-founder Chris Mackay will serve as chief investment officer while Hamish McLennan steps in as interim chair.
Jarden hires head of emerging companies
Jarden has appointed Rohan Gallagher as head of emerging companies.
Gallagher is a former Credit Suisse managing director and deputy head of research, having spent 12 years at the firm before moving into corporate roles including with Caltex (now Ampol) and Aristocrat Leisure.
Gallagher will start in April, reporting to the head of equities John Spencer. He will focus on both equities and corporate broking.
RAM appoints head of funds management real estate
Real Asset Management has appointed Matthew Strotton as head of funds management real estate.
Strotton joins from QIC Global Real Estate where he was global director and head of funds management. He spent 19 years with the company.
RAM chief executive, Scott Kelly, said Strotton ‘will play an integral role in crystallising our existing strategic plans and platforms in the unlisted and listed spaces as well as forging new partnerships and opportunities’.
JP AM head of funds leaves
JP Morgan Asset Management’s Australian head of funds, David Hallifax, is departing the firm after nine years.
The firm thanked Hallifax for his leadership across the asset management business and wished him well as he sought other opportunities.
Following his departure, the head of funds role has been combined with head of strategic relationships, to create a new position: head of wholesale, Australia and New Zealand. Mark Carlile has taken on the job.
Raiz Invest appoints new director
Raiz Invest has appointed Philippa Taylor as a non-executive director.
She started on 1 February and comes with two decades of experience. She is a current board member of Western Leisure Services – it manages major recreational facilities – Apollo League (it assists SMEs find capital and leaders), and We Make A Difference (a subscription member benefits platform).
Raiz chairman, Harvey Kalman, said, ‘Having also held senior roles in financial and professional services organisations overseeing corporate growth, including restructuring, refinancing, rapid expansion and contraction, and merger opportunities, she will certainly add to Raiz’s skill set at a board level during a period when we are aiming to rapidly grow the Australian and Southeast Asian operations.’