The former head of Australian equities at GMO, who dramatically departed the manager in February, is building a new quant capability inside a major boutique incubator.

Rick Suvak, who is said to have left GMO so suddenly he left his bonus behind, was approached by nabInvest shortly after he became available.

Suvak had been a Boston-based partner of GMO before being imported to Australia in January 2008, to help fill the holes left by a recently-departed Australian equities team. He had been with GMO since 1995, and during his long tenure had helped develop and manage the quant firm’s international 130:30 and growth equity strategies.

When Geoff Wells was promoted to run Australian equities in February, it’s understood Suvak was not ultimately offered another equivalent posting within the GMO group.

Confirming Suvak’s appointment, a nabInvest spokesperson said: “In line with nabInvest’s strategy to expand our participation in direct asset management, nabInvest is currently developing a  quantitative investment capability within the business. Tim Batho is leading this team, which includes Rick Suvak. The capability is still being built and tested and we will provide more information when we are ready to launch.”

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