Mellon Transition Management Services has attracted high-profile transition manager John Venardos away from RBC Dexia Investor Services to run its new Australian business.
When he starts next week, Venardos will be responsible for implementing transitions for clients internal and external to elsewhere across the Bank of New York/Mellon group. BNY Mellon Asset Management head of institutional business, Stephen Alcorn, said Mellon Transition Management Services’ fiduciary approach aimed to “;shake up”; an Australian transitions market still dominated by “;a couple of players”;. Vernados will report to the San Francisco-based managing director of Mellon TMS, Christine Carr-Smith. An RBC Dexia Investor Services spokesperson said the firm was seeking to replace Vernardos’ head of transition management role. Vernados was with RBC Dexia for roughly 18 months, and before that was a transitions executive at BNP Paribas’ and JPMorgan’s custody businesses.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
