Credit Suisse Asset Management’s Australian resources analyst left on Friday, the seventh departure in seven months from the team which new domestic equities head Steve Giubin is attempting to rebuild.
Kenneth Wan, part of CSAM’s Australian equities team since 2001, resigned after an approach from Chicago-based alternatives manager Citadel Group to manage a long/short Australian equities fund from Hong Kong. Wan’s resources and diversified financials sector responsibilities will be covered by Giubin and Richard Kornman while a replacement is sought. Wan joins a list of analysts to depart CSAM this year which includes James Barrett, Madelyn Hall, Adam Palmer, small cap analysts Matthew Palmer and Steve Atkinson, and previous head of Australian equities Andrew Fleming.
Since taking over the top job at the $44 billion Funds SA more than a year ago, chief executive John Piteo has ushered in an investment function overhaul and wrapped up an important stage of the fund’s five-year data transformation program. It pledges to recentre around investment performance and more efficient processes, as the “missing piece” has been found in incoming CIO Con Michalakis.
Darcy SongJanuary 10, 2025
