As MLC Investment Management reaches the shortlist stage in its search for a chief investment officer, it has hired the former asset allocation chief at UBS Global Asset Management to an investment strategist role.

 

The search to replace Chris Condon as overseer of MLC’s $115 billion of predominantly multi-manager portfolios is being run by David Scambler, of Scambler MacGregor Executive Search. It’s understood that Susan Gosling, the acting chief investment officer of MLC Investment Management, is one of the shortlisted candidates.

Condon now privately consults to MLC since stepping down as CIO in February.

Meanwhile the firm has appointed Michael Karagianis to the newly-created role of investment strategist. Working alongside the other MLC staffer with that title, Brian Parker, Gosling said Karagianis would conduct research, develop investment strategies and present to financial planners around the country.

Gosling said Karagianis would contribute to the strategic overlay process for MLC’s diversified funds, introduced in December, which allows the multimanager to act on long-term market insights, making adjustments of plus or minus 5 per cent to strategic asset allocation where deemed appropriate.

Karagianis spent four years at UBS before departing in June 2009, prior to which he spent four years as global head of asset allocation for Aberdeen Asset Management.