Kiefel ‘pre-empts’ conflict with resignation

Charles Kiefel has resigned as chairman of boutique growth style manager Hyperion Asset Management, saying it’s a pre-emptive move to avoid a potential conflict of interests.

As well as serving on a number of other boards, including chairing the Military Superannuation and Benefits board, Keifel is LSV Asset Management’s director of business development, Australasia. He said he resigned to eliminate any potential conflict of interest with Wilson HTM Investment, which owns a 50 per cent stake in Hyperion, and which has signalled its growth intentions. “Wilson is constantly expanding and developing its strategy and its investment area and I don’t want there to be a future risk of a potential conflict of interest with my other committments,” Kiefel said. He says Hyperion is in a strong position and he has a lot of confidence in the boutique’s future. Tim Samway, institutional business director at Hyperion, said a search for a replacement chairman was underway. In the meantime, Hyperion has appointed Deborah Beale as a new director. Beale is a public affairs and government relations consultant with Ernst & Young and serves on a number of boards including the Emergency Services Superannuation Scheme. Also on Hyperion’s board is managing director and chief investment officer Manny Pohl; Steven Wilson, executive chairman of Wilson HTM Investment Group; and Derek Goodyer. Samway said Kiefel’s time as chairman had seen the company’s funds under management effectively double. Hyperion’s FUM recently pushed through the $1.2 billion mark, after the boutique won an Australian equities mandate from a publicity-shy client, who prefers to remain anonymous.