Ixis Asset Management Australia (Ixis AMA) has lost Denis Carroll as an executive director, with the former AvSuper fund secretary reverting to a part-time role as non-executive director.

Carroll is reducing his responsibilities, which include business development, to three days a week so that he can concentrate on some private investment projects. Carroll revealed one of these projects involved putting together a private syndicate to invest in Indian property. Carroll said the syndicate, which he described as “a bit of a hobby”, would benefit from contacts he had on the ground in India, as well as valuations which were attractive compared to well-hyped markets in China. Ixis AMA, which recently surpassed $3 billion under management in Australia, recently hired administration consultant Drew Vaughan as chief operating officer, also on a three days per week basis.