Pinnacle Investment Management’s first-ever director of distribution and client relationships started work in Melbourne this morning, after finishing a seven year stint with Legg Mason (formerly Citigroup Asset Management) on Friday.
Andrew Chambers will be responsible for client and intermediary relationships on behalf of four boutiques part-owned by Pinnacle – Australian equity shops Solaris and Plato, LPT manager Resolution Capital and infrastructure manager Palisade. The managing director of Pinnacle, Ian Macoun, said Chambers’ Legg Mason experience was valuable because it also involved representing a multi-affiliate manager model. Macoun said a Sydney-based equivalent to Chambers was in the process of being appointed. Legg Mason’s Australian head of distribution, Kimon Kouryialas, said Chambers was being replaced and added the firm was also searching for a Melbourne-based head of client relationships and a further Sydney-based BDM.
There is one investment area where Insignia’s $180 billion super arm has not lost money for the past 17 years, which is what it calls the insurance-related investments. The alternatives strategy is gaining popularity among asset owners due to its diversification benefit, but Insignia’s super and asset management investment chief Dan Farmer warns it is a space where investors can suffer if they “stumble in without doing the homework”.
Darcy SongJanuary 23, 2025
