The investments chief at the $12 billion WorkCover Authority of NSW, Jerome Lander, will soon leave the insurance fund to become head of traditional asset consulting at a major firm.
Lander will spearhead the traditional consulting division of Russell Investments from July 18, confirmed Greg Liddell, head of consulting and advisory services at the business, and will oversee a team of three senior consultants – Frank Russo, Nick Curtin and Sam Porath – and six analysts across the business’ offices in Sydney and Melbourn.
As Russell sought to strengthen its consulting business, Liddell said it aimed to differentiate itself from competitors by hiring people who had experience in managing money.
“We have a deliberate policy of hiring people that have touched the money,” Liddell said.
I&T News understands that WorkCover NSW investment director Chris Grogan will cover Lander’s duties until a replacement is appointed through an external search.
According to the WorkCover NSW annual report for 2009-10, under Lander’s oversight the Workers Compensation Insurance Fund generated a one-year return of 11 per cent despite being a conservative, low-volatility portfolio consisting primarily of domestic government bonds.
Lander, a qualified doctor, left the medical industry after four years’ to become an investment analyst at Platinum Asset Management in January 2004. Six months later he joined van Eyk and rose to become head of research by the time Credit Suisse Asset Management appointed him head of international eqities and diversified assets in February 2008.
In April 2009, CSAM’s Australian funds management business was bought by Aberdeen Asset Management, making Lander’s role redundant. He joined WorkCover as CIO two months later.
At Russell, he will report to Liddell alongside other directors in the consulting division: head of implemented consulting Keith Knapman: head of alternatives consulting Nicole Connolly; head of after-tax investment solutions Raewyn Williams; and head of capital markets Graham Harman.