UBS Global Asset Management has hired a former manager of investments at Commonwealth Bank Officers Super Fund to be its head of institutional consulting relations.
Mark Plimley joined UBS GAM in October, after three years in New York with Wilshire Associates where he headed a relations team for risk analytics. UBS GAM’s head of institutional business, Danielle Press, said Plimley’s appointment showed the manager’s “;continued commitment”; to the institutional market. “;Mark’s prior experience at the Commonwealth Bank Officers’ Superannuation Fund and at Wilshire, a leading US consulting house, provides a unique perspective and complements the existing team’s strengths,”; Press said. Plimley joins as UBS GAM rebuilds its institutional business following the departure of half of its Australian equities team, lead by Paul Fiani, earlier this year. With Simon Shields since installed as head of Australian equities, Press said there was only one more hire to go before the team was back to a full complement of 10 analysts and two portfolio constructors/implementers. The latest recruit was Joh Snyman, previously at Allianz Global Investors and before that on the sell-side at BNP, to be a transport and retail analyst. UBS GAM’s head of business development role remains vacant
AustralianSuper’s appointment of a general manager, retirement to replace Shawn Blackmore, which follows ART's redeployment of Kathy Vincent to chief operating officer, shows that mega funds are back-pedalling on the strategy of having dedicated retirement C-suite executives. The role had been touted as the next big thing in super funds' organisational structures, but experts say what matters is there is senior accountability for decumulation.
Darcy SongDecember 4, 2024
