The UBS Institutional Funds Group has made up for the departure of its head, Nick Carrigan, with the poaching of a transition management and overlay expert from a competitor.
With Carrigan and family flying to Tokyo this Wednesday, so he can take up a role running client trading and execution for Japanese equities, UBS has announced internally that Jeremy Campbell will be joining in late March from the BlackRock transition team.
Campbell will relocate to his home town of Sydney from Liliana Colla’s Melbourne-based team, where he had been based for two-and-a-half years with responsibility for risk, portfolio management and trading.
Before that, he was in BlacRock’s UK transition management team, and also worked for several years as a senior dealer for First State Investment Managers in London, specialising in small cap and emerging markets.
Campbell will report to the new head of UBS Institutional Funds Group, Andrew Dalgleish.
Colla said Campbell’s departure did not create an immediate resourcing need, given BlackRock’s transition management team globally has just doubled to 50 people following the acquisition of Barclays Global Investors, which had transition teams in London and the US although not in Australia.
Colla has worked with her operations head, Janine Cooper, for the entire 10-year life of BlackRock’s transitions business in Australia, while Thekla De Rango has been in the team for about three years. Colla said the tie-up with BGI was already giving transitions clients access to a much larger off-market crossing network, as well as the iShares suite of exchange-traded funds.
She said fixed interest portfolio restructures were the main source of work for Australian transition managers at present.