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.
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
