The former Australian chief executive of Allianz Global Investors, Peter Rayner, has resurfaced as chief executive of alternative boutique incubator, Saltbush Funds Management.

After resigning from Allianz in August 2005, Rayner has been chosen by Saltbush to spearhead its campaign for more institutional business. The executive chair of Saltbush, Steve Williams, said the group’s two hedge funds were already on the menus of four global fund-of-funds between them, and that local institutions were also becoming more willing to back local alternative managers. Rayner’s chief executive role is a new position, supplanting the managing director role that had been performed by Patrick Allaway. He will now concentrate on managing Saltbush’s fund of off-street parking assets.