Nick Basile will start next Monday as investment director of another major boutique incubator, after resigning as chief executive of Westpac-owned Ascalon Capital Managers late last year.

Basile will start at nabInvest next Monday, in a senior position reporting to CEO Gary Mulcahy.

Basile will represent nabInvest’s interests on the boards of its boutique partners, which to date include Northward Capital (the former IAG Asset Management Australian equity team in which nabInvest has a 51 per cent stake), Fairview Equity Partners (the former Goldman Sachs JBWere small cap team in which nabInvest has a significant minority stake) and Pengana Capital (the diversified alternatives business in which nabInvest also took a significant minority stake last year).

He will also act as an adviser and sounding board to both these boutiques and nabInvest’s internal funds management businesses, such as Antares Capital. It is understood nabInvest has been seeking to fill this CIO-like role for about a year.

Basile brings a vast amount of funds management experience to nabInvest. He worked with Mulcahy in the 1990s at Lend Lease Investment Management, building its manager-of-managers process under CIO Bill Webster. 

He went on to join Legal & General and run what became Commonwealth Investment Management, before working directly with boutiques at Ascalon from August 2006.

Andrew Landman, the chief financial officer at Challenger’s funds
management business prior to a short stint helping run its own boutique
incubation division, last week started in the vacancy Basile created at Ascalon.