Australian multi-boutique distributor, Pinnacle, is looking to expand in the NZ market with an Auckland-based sales role up for grabs.
According to the listed job description, Pinnacle, which boasts about A$26 billion in funds under management across its seven affiliate investment firms, wants a NZ distribution director to unearth “new business opportunities in NZ… across retail and wholesale distribution networks”.
The Pinnacle roster includes global equities house, Antipodes, (launched by former Platinum managers), ‘high conviction’ Aussie shares specialist, Hyperion, and international listed property firm, Resolution Capital.
While the ASX-listed firm holds equity stakes in the seven affiliates it also provides distribution-only services to Metric Credit Partners and Sigma Funds Management.
Headed by Ian Macoun, who developed the multi-boutique model in Australia with Perennial Investment Partners, Pinnacle also lobbed an ultimately-thwarted bid for ethical manager, Hunter Hall, earlier this year.
Aside from Pinnacle, other affiliate-style firms playing in the NZ market include institutional offerings from Natixis Global Asset Management and Legg Mason. Natixis represents 16 underlying managers while Legg Mason has a stable of nine, including global fixed income firm, Brandywine.
Meanwhile, a handful of other NZ funds management firms are shopping around for fresh talent with associated businesses Devon and Clarity (formerly the PIE product division of JMIS) both in the market for new staff.
Devon is on the lookout for a buy-side equity analyst while Clarity has advertised for an Australasian equities portfolio manager.
In April this year JMIS and Devon formed a shared back-office business under the Investment Services Group brand.
“Clarity is part of the Investment Services Group that manages over $4 billion of client funds and whose members include Devon Funds Management, JMIS and Select Wealth Management,” the Clarity recruitment spiel says.
JMIS also recently appointed former ANZ private bank adviser, Jason Watson, as head of advice.