Six months after starting at Melbourne-based Australian equities manager Portfolio Partners, a financials analyst has been lured to the sell-side at Credit Suisse in Sydney.
William Ammentorp, who had sell-side experience prior to his stint at Portfolio Partners, will start at the investment bank on Monday, June 30. According to Ammentorp, his new position will be as an analyst broadly covering financial services, but he said he would not pick up specific stocks or write research reports. He added his departure was caused by his wife being appointed head of human resources at AMP, which means the family will be moving to Sydney. In addition to financial sector coverage, Ammentorp also worked on the Portfolio Partners Elite Opportunities Trust. Before he went to Portfolio Partners, Ammentorp was an independent banking consultant for most of 2007 after four months at Queensland-based alternative Australian equities manager Charter Pacific Funds Management in 2006. He previously worked on the sell-side at Macquarie Bank for four-and-a-half years as a senior analyst covering banks. He has also worked in strategy at ANZ and Westpac. I&T News understands Portfolio Partners head of equities, Glenn Hart, is picking up Ammentorp’s responsibilities. Portfolio Partners chief executive Craig Bingham declined to comment, as did Credit Suisse.
The total portfolio approach has already been implemented by some of the biggest asset owners around the world. But with the advent of a more volatile market and macro backdrop more funds might start putting it to work.
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