A senior institutional salesman will leave Russell Investments to become the chief executive of Tibra Investment Management, a subsidiary of global trading firm Tibra Capital.
Chris Briant will shortly leave Russell Investments (Russell) after three years and head to the Bondi Junction offices of Tibra IM, which plans to launch an Australian equity product with a post-tax returns focus within the next three months.
Briant takes over from Michael Ohlsson, who for the past 15 months has been filling the dual roles of CEO of Tibra IM and general manager for Asia at Tibra Capital. Not long after joining Tibra in February 2009, Ohlsson reviewed the funds management business and ended up shutting down some existing absolute return products.
Ohlsson will remain on the board of Tibra IM, and the former CEO of Fidelity Investments Australia said he would be actively involved in the strategic direction of the firm. The manager will leverage off the high-speed algorithmic trading capabilities of Tibra Capital.
In a note to staff on Friday, Russell Investments’ managing director Australasia, Chris Corneil, said Briant’s “brand of selfless enthusiasm will be sorely missed”.
He noted that Briant’s legacy included clients such as State Trustees and Suncorp, and the adoption of Russell Global indices as benchmarks for the multimanager division’s global funds.