The revised structure includes a new co-investor in Wheelhouse, Alan Howard.  Mr Howard is a co-founder of Brevan Howard Asset Management LLP, the UK hedge fund where Wheelhouse trader Andrew MacLeod and chief information officer Sam Jacob worked for many years across several markets.  Mr Howard replaces Bennelong in the capital structure of the business.

Managing Director of Wheelhouse, Alastair MacLeod, said Mr Howard’s investment represents a tremendous vote of confidence for the business which began operating under Bennelong’s structure over three years ago.

“While volatile market conditions have played to our strengths, we remain steadfastly committed to the core objectives on which Wheelhouse is founded; to generate a reliable, consistent income stream whilst preserving investor capital from market downturns,” MacLeod said.

“For the first time in decades, investors are facing falling dividends, fewer traditional income yielding options and inflated asset prices across the board, which is transferring more risk to capital bases.

“Our global strategy seeks to address these concerns, targeting a high-income yield whilst safeguarding our investors’ capital.

“The time is right for a differentiated investment approach and we are excited to be in a position to invest in our business and create solutions for investors to help navigate this challenging environment.”

The MacLeod brothers are based at Wheelhouse’s headquarters in Brisbane, while Sam is based in Sydney.

The team will be supported by recently appointed Chief Operating Officer Tony Hammond, well known in Australia’s funds management industry for his stewardship of fast-growing boutique investment managers.

Hamel Strategic Partners will head up distribution efforts for Wheelhouse, led by Andrew Aitken, the former Head of Distribution at Bennelong, and Cameron Dickman, formerly Head of Distribution at AMG and Australian Unity.

The Trust Company (RE Services) Limited (Perpetual) is now the Responsible Entity for the Wheelhouse Global Equity Income Fund.

The team has completed extensive testing of an Australian equities focused fund, applying the same rules-based and disciplined derivatives strategy to that of its flagship global fund, however over an index of Australian listed securities.  The local fund is expected to be rolled out to Australian retail and wholesale investors later this year.

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Matthew’s appointment follows the move of Ryan Durance, who previously headed up Bennelong’s institutional team, who was promoted to oversee the distribution arm of BennBridge, Bennelong’s London office.

Matthew joins Bennelong from Citigroup where he spent 11 years, most recently in Prime Finance.

Andrew Aitken, who manages the broader distribution function of the group said, “It’s pleasing to see the company expand at the rate it has been. Since July last year, there have been nine hires to support business growth. With the addition of three new boutiques in under 18 months, bringing our total asset management teams to seven, Matthew joining the institutional sales team will allow Bennelong to greater prioritise growth in the institutional market in the medium term.

“It’s such an exciting time at Bennelong as we look to extend the local success story offshore, with the opening of BennBridge in the UK,” said Andrew.

Matthew will be based in the Sydney office and joined the team on 6 March.

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Jeremy Crowley

Bennelong Funds Management has appointed Jeremy Crowley to the role of associate director, institutional sales, reporting directly to Ryan Durance, head of institutional sales.

Jeremy joins Bennelong from Treasury Group, where he was distribution associate for the last two years. In this role, he was working with institutional prospects and building relationships with asset consultants and research houses. Prior to this, Jeremy worked in client services at both Treasury Group and National Custodian Services (NAB).

Andrew Aitken, who manages the broader distribution function of Bennelong Funds Management, said: “With five new funds added to our product suite within the last 12 months, the business is growing at a rapid rate.

“The addition of Jeremy to the institutional sales team will allow Bennelong to continue to grow its distribution footprint in the institutional space.”

Since Andrew started with Bennelong in 2008, he has a seen a significant evolution of the business.

“Bennelong has come a long way, with a current suite of seven boutiques and a total of 11 funds. Funds under management recently hit a significant milestone of $7 billion and the business shows no signs of slowing down, with an appetite for offshore growth,” he said.

Jeremy is based in the Sydney office.

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The appointment follows on the heels of recent announcements about Bennelong’s joint initiatives with new global infrastructure investment manager, 4 Corners Infrastructure, and global real estate team Quay Global Investors.  In addition, Julian Beaumont this month joined the Australian equities BAEP team as their new Investment Director.

Changes are afoot and Bennelong’s expansion is set to continue.

Andrew Aitken, Bennelong’s Head of Distribution, welcomed Ryan to the Distribution team saying he was a great fit for the high-performance culture at Bennelong.  “We are committed to building a contemporary business development and client engagement model, ultimately being recognised for excellence in delivering best in class, high alpha investment managers and products,” said Andrew.

Ryan Durance joins Bennelong from Schroders PLC in London, where he was an Equity Long/Short Product Manager. In this role he was in charge of formulating the global business development strategy, aiding product development and acted as a Product Specialist for four European & UK long/short strategies and a UK small cap long only fund.

Prior to this, Ryan was an International Sales Manager at Cazenove Capital Management (later acquired by Schroders), where his main task included managing a book of European and US institutional investors (private banks, family offices, consultants, insurance companies, pension funds and funds of hedge funds) to raise assets in offshore hedge funds, absolute return funds and long only strategies (equity and fixed income).

Other roles in the UK have included Private Banker, UK Private Bank at Barclays Wealth, as well as positions at Coutts & Co and Merchant Investors.

Bringing with him almost a decade of financial services experience and in-depth technical knowledge, Ryan’s key strength is in building robust relationships with institutional investors.  Focusing beyond generating sales, Ryan is committed to supporting investors with their need for open channels of communication regarding asset managers’ views, changes in stock selection and macro-economic outlook.

Reporting to Andrew Aitken, Ryan will join the Distribution team on 9 June and will be based in Bennelong’s Melbourne office.

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Zac will join Bennelong on 27 October. Located in the Sydney office, he will contribute to the business development function across all channels, but in particular the national accounts and research relationships.

Bennelong’s Head of Distribution, Andrew Aitken, said Zac’s extensive experience in financial services roles is particularly valuable as he has worked both as a research analyst and in distribution. “Our existing sales team has built strong relationships throughout the industry’s institutional and retail value chains. The introduction of this new role will enable us to better service our clients and expand Bennelong’s distribution footprint.”

Zac has worked at Zurich Investments for the last four years, where he was Strategic Account and Research Manager, responsible for growing Zurich’s strategic relationships with research houses and national dealer groups. Previously, Zac worked as Research Analyst & ETF Strategist with Morningstar and Accountant & Portfolio Analyst with UHY Haines Norton.

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