Six months after Cameron Sinclair departed for Principal Global Investors, ING Investment Management has appointed a new head of institutional business development.
Andreas Faeste will have a wider remit than his predecessor, as he will also be responsible for client service, reporting directly to ING IM’s deputy chief executive and head of distribution, Martin Donnelly.
Faeste previously ran institutional sales at JF Infrastructure, the Mirvac-Leighton Holdings joint venture whose value was written off by the partners last May, thanks to a large investment in the Lane Cove Tunnel. Prior to that Faeste was in a similar role at IAG Asset Management, prior to its Australian equities team leaving to be incubated by NAB Capital as Northward Capital.
Faeste’s appointment comes on top of some senior investment appointments made by ING IM late last year, including Brad Gibson as head of rates strategies, and three new Australian equity hires (including senior portfolio manager Gian Pandit) to help fill the hole left by former directors Paul Cuddy and Mark East, who took two analysts with them and formed a boutique with Bennelong Funds Management backing.
ING IM is not currently the force in the wholesale market that it is in retail, however Faeste said it had plenty to offer.
” [I] see great opportunities in global property securities through our ING Clarion Real Estate Securities business, next generation Australian equities strategies, [and] new fixed interest methodologies with a total return focus,” he said.
