Jason Collins

BlackRock has announced the appointment of Jason Collins as Head of Australia. Jason will continue to report to Andrew Landman, who was appointed Deputy Head of APAC, Head of Southeast Asia and Oceania, and Head of APAC Wealth at BlackRock in January this year.

As Head of Australia, Jason will have oversight of all commercial and operational aspects of the Australian business. He will continue to serve as an executive director on the board of BlackRock Australia and BlackRock New Zealand.

Jason was previously Deputy Head of BlackRock Australasia. He joined BlackRock in 2013 and has held multiple senior roles including as Head of iShares and Index Investments for Australia and New Zealand and Head of Client Business, Australasia. Prior to that, Jason held leadership roles in Australia and Asia including at BT Financial Group and Deutsche Bank.

Andrew Landman, Deputy Head of APAC, Head of Southeast Asia and Oceania, Head of APAC Wealth, BlackRock, said, “Following his highly successful contribution to the firm in his previous leadership roles, I am delighted to see Jason take on a broader remit to lead the Australian business.

“BlackRock’s strong local team has enabled us to deliver consistency of leadership for our clients throughout Australia and New Zealand which supports them in achieving positive investment outcomes for their respective member and client base over the long term.”

Commenting on his appointment, Mr Collins said, “I am excited to take on the role of leading a diverse and experienced Australian team and leveraging BlackRock’s global scale and expertise to the benefit of our partner firms and end investors.

“BlackRock seeks to make a meaningful impact in the markets we operate in, and we remain committed to furthering the development of the local industry in our role as a fiduciary to clients.”

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In this new role, Jonathan will lead the delivery of BlackRock’s diverse platform and global capabilities to wealth and institutional clients in these states. Jonathan will be responsible for serving BlackRock’s broad set of wealth and institutional clients, identifying and growing new client strategic relationships in the respective states, as well as assisting clients with whole portfolio solutions tailored to their evolving needs. Jonathan will be based in Melbourne and will report to Andrew Landman, Country Head of BlackRock, Australasia.  

Jonathan brings over 25 years’ of experience to the role.  Most recently, he spent 15 years at Credit Suisse in Hong Kong and Singapore as Head of Equity Distribution and Prime Sales, Asia Pacific.  In this role, he was responsible for the business’ client strategy, and managed corporate access for Credit Suisse in Asia Pacific, delivering the firm’s corporate interactions program.  Prior to this, he spent 11 years at JP Morgan in a range of equity sales roles.

Andrew Landman, Country Head of BlackRock Australasia, said, “BlackRock’s core strength is in our ability to leverage our global insights and investment capabilities, coupled with deep local experience, to deliver for clients across their whole portfolio. To that end, we are pleased to have Jonathan join us to support our client base in Victoria, Tasmania, South and Western Australia where we have experienced tremendous growth.

“Based in our Melbourne office, Jonathan will draw on his global experience to lead our efforts in engaging more deeply with wealth and institutional clients as they continue to turn to us for bespoke solutions especially during periods of market volatility.”

Commenting on his appointment, Mr Jenkins said, “I am delighted to take on this role to build on the momentum of the business with a strong focus on delivering the breadth of BlackRock’s platform to clients. This includes capitalising on growth opportunities in order to deliver the right mix of investment solutions to better serve clients in meeting their long-term financial goals.”

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Andrew Landman

BlackRock Real Assets announces a fund under its management has agreed to acquire Akaysha Energy (Akaysha), one of Australia’s leading battery energy storage systems (BESS) and renewable energy developers.

As part of the acquisition, BlackRock intends to commit over AUD$1 billion of capital to support the build-out of over 1GW (Gigawatt) of battery storage assets across Akaysha’s nine projects in the National Electricity Market (NEM) in Australia. The investment will support the grid at a critical time in Australia’s energy transition and is expected to reduce over 15 million tons of CO2 equivalent emissions over the lifetime of the projects.

Battery storage assets have the capacity to resolve the intermittency of renewable energy sources such as wind or solar power, as well as enhance the reliability of the grid by providing voltage management, system strength, inertia, and frequency control services. At full capacity, Akaysha’s projects will help accelerate the roll-out of a further 4,000MW (megawatt) of supply of clean, affordable renewable energy across Australia.

This is the first battery storage investment made by BlackRock’s Climate Infrastructure business – part of BlackRock Real Assets – in the Asia-Pacific region.

Established in 2021, Akaysha’s longer-term plans include developing future energy storage projects in other Asia-Pacific markets, with a near-term focus on Japan and Taiwan. Akaysha also has plans to add adjacent renewable energy opportunities (including developing green hydrogen assets) to its portfolio across multiple markets.

Bloomberg New Energy Finance^[1] has projected that 345GW of battery storage capacity will be added globally by 2030 with the Asia-Pacific region expected to contribute the lion share of the deployment, representing an investment opportunity of around US$400 billion.

Australia requires several GW of battery storage deployment in the near term and is a key market for the development of this technology both in the Asia-Pacific region and globally. Battery storage will play a critical role in ensuring an orderly and just transition to a future power generation mix of 82% renewables by 2030, as Australia establishes itself as a renewable energy superpower.

Charlie Reid, APAC Co-Head of Climate Infrastructure, BlackRock, said, “As renewable energy infrastructure continues to mature in Australia, investment is required in battery storage assets to ensure the resilience and reliability of the grid, especially with the continued earlier-than-expected retirement of coal-fired power stations. For our clients, we see tremendous long-term growth potential in the development of advanced battery storage assets across Australia and in other Asia-Pacific markets and look forward to working with Akaysha to ensure an orderly transition to a cleaner and secure energy future.”

Nick Carter, Managing Director of Akaysha, said, “The Asia Pacific region is at the dawn of its energy transition from carbon emitting fossil fuels to intermittent renewable resources and we believe a successful shift to a more sustainable energy future is dependent on the use of large-scale battery storage. By tapping into BlackRock’s global capabilities and track record in climate infrastructure, we’re excited to fulfil our ambitions in accelerating the installation of utility-scale energy storage technologies that will mitigate the variability of renewable generation and deliver grid reliability and resilience to power system networks across Asia-Pacific.”

Andrew Landman, Head of Australasia, BlackRock, said, “This investment reflects our commitment to accelerating Australia’s energy transition. BlackRock is pleased to be contributing to the development of significant battery storage assets that will enhance the grid infrastructure across Australia and, in effect, ensure the delivery of increased energy security for all Australians.”

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[1] BloombergNEF’s 2021 Global Energy Storage Outlook as of January 2021. For illustrative purpose only. There is no guarantee that any forecasts made will come to pass.

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Andrew Landman

OpenInvest has welcomed BlackRock joining the OpenInvest online marketplace, giving self-directed Australian investors access to transparent and cost effective multi-asset solutions built with iShares ETFs.

OpenInvest offers Australia’s self-directed investors access to some of the world’s best and most highly credentialed asset managers in an open, transparent and conflict-free environment. Investors can engage with different asset managers, and get to know and understand their respective investment approaches, and the fees they charge. When they feel ready, they can choose the asset manager they feel is right for them to manage their portfolio, with trading and administration undertaken by OpenInvest.

Co-founder and CEO of OpenInvest, Andrew Varlamos, welcomes BlackRock to the platform, saying it was an important validation of the OpenInvest goal of giving more Australians access to the best investment managers in the world.

“BlackRock manages more assets on behalf of investors than any other firm in the world. Via OpenInvest, Australian investors of all sizes, are now able to access portfolios managed utilising BlackRock’s extensive and global resources, expertise and experience”, Mr Varlamos said.

Andrew Landman, Head of Australasia at BlackRock, said the firm is excited about joining the OpenInvest marketplace.

“BlackRock is committed to helping investors around the world plan for their financial future. We are pleased to bring our iShares Enhanced Strategic Model Portfolios to the wider Australian market, providing investors with transparent, cost efficient building blocks to manage their individual portfolios and achieve their desired investment objectives,” said Mr Landman.

Post the Hayne Royal Commission many Australians are understandably uncertain as to where they can obtain the trusted and professional assistance they need. Self Managed Super Fund trustees in particular are seeking professional help with their portfolio; they understand the importance of having a properly diversified portfolio, but often lack the expertise and confidence to do this on their own.

All of the available asset managers on OpenInvest offer diversified portfolios across the spectrum of risk/return categories.

Mr Varlamos explained: “Every piece of research over many decades confirms the truism that the safest and most appropriate way to invest is with a properly diversified portfolio, giving an investor access to a broad range of asset classes. This is best undertaken by professional experts, and via OpenInvest we make it easy and affordable for Australians to access these experts”.

John Maroney, CEO of the SMSF Association, speaking at the Association’s annual conference on the Gold Coast, welcomed the news that BlackRock was joining the OpenInvest marketplace. “Australia’s 1.1m SMSF trustees have chosen to use an SMSF to plan for their retirement because they value the control it gives them.  And most SMSF trustees understand that professional expertise is essential to ensuring they get the best possible outcomes. We welcome increased investment choice for SMSF trustees to help ensure their portfolios are well diversified and managed.”

OpenInvest has been designed from the ground up to meet the needs of self-directed investors: investment managers explain themselves and their investment approaches in plain English, fees are clearly explained and there are no hidden extras or conflicted payments. And the investor is kept informed and is always in control.

BlackRock will soon make their products available to the OpenInvest online marketplace, alongside other tier one asset managers including Schroders and Macquarie. Mr Varlamos added that OpenInvest had a strong pipeline of Australian and global asset managers who will be joining in the months ahead, offering investors even more choice.

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Mr Porter, who is currently Managing Director, Head of UK Consultant Relations, BlackRock based in London, will return to Australia and assume the new role on 1 January 2020. Prior to joining BlackRock in 2017, Mr Porter was at PIMCO in London for close to 10 years, most recently as the Head of UK Business Development. Mr Porter will report to Andrew Landman, Head of BlackRock Australasia, and Jason Collins, Head of Client Business, BlackRock Australasia.

Landman said: “Our clients increasingly look to BlackRock to help them navigate a changing environment with significant disruptions due to geopolitical, regulatory and demographic trends. As BlackRock’s business in Australia and New Zealand continues to grow, it’s important that our clients across the region are fully supported. To that end, and to support our growth specifically in Victoria, I’m delighted to welcome David to the newly created role of Head of Melbourne.

“David brings a wealth of global experience that is well-suited to the role. We are fortunate to attract such high calibre talent and I look forward to working with him to continue to build our business in the region.”

Commenting on his appointment, Porter said: “I am excited to return to Australia and look forward to working with my global and Australian colleagues to provide holistic solutions to our Victoria-based clients, and to seize on new and future opportunities in the market.”

Prior to working for PIMCO, Mr Porter worked in the fixed income derivatives groups for Merrill Lynch and Credit Suisse in Hong Kong. Mr Porter is a CFA Charterholder, and holds an MBA from INSEAD, a Master of Science from the University of Chicago and Bachelor of Commerce from the University of Adelaide.

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Andrew Landman

BlackRock has appointed Andrew Landman Head of Australasia. He succeeds Dominik Rohé, who takes over as Head of the Latin America region.

Mr Landman takes up his new post in June, while continuing to play his existing role as Head of Asia Pacific Client Business. He will return to Sydney from Hong Kong once his client business responsibilities have been transitioned to a successor. Mr Landman will continue reporting to Geraldine Buckingham, BlackRock’s Chair and Head of Asia Pacific.

Ms Buckingham said: “Dominik has led the business successfully through industry and market transformation over the last three years. He has worked closely with his leadership team to strengthen the local team and broaden relationships with key clients, who have been served with more diverse and technology-led solutions.”

She added: “Andrew’s in-depth local and regional experience, as well as his global connectivity with clients and partners, will help position BlackRock to continue growing its business, while helping clients navigate an increasingly more complex world. I look forward to working with Andrew to bring about even greater client engagement and serve them with a differentiated investment experience.”

Mr Landman said: “I am delighted to be returning to Australia, capitalising on my regional experience and partnering with colleagues to advise investors and institutions on holistic investment strategies, as they address new market realities.”

He has served BlackRock for the last six years, first leading the alternatives distribution business in Sydney, before moving to Hong Kong to lead distribution efforts throughout Asia Pacific. Prior to joining BlackRock in Australia in 2012, Mr Landman played leadership, client and financial roles. These included the post of CEO at Ascalon Capital Managers, a subsidiary of BT Financial Group, plus roles with BT Financial Group, Challenger Funds Management and Bankers Trust.

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Based in Hong Kong, Kimberly will formulate and execute an integrated business strategy targeting the region’s insurance companies. She will report to Andrew Landman, BlackRock’s APAC Head of Client Business, and David Lomas, Head of Global Financial Institutions Group.

Kimberly joins from Deutsche Asset Management, where she was most recently Head of Global Client Group for Hong Kong and Regional Head of Insurance Coverage for APAC ex-Japan. She rebuilt the firm’s institutional and corporate client base in Hong Kong and widened regional coverage of insurance companies. She also represented APAC ex-Japan on the global insurance coverage committee.

During almost 15 years at Deutsche Bank, Kimberly worked across asset management and global market divisions, serving the region’s institutional client business with a focus on the insurance and asset management client base.

Landman said: “Asia Pacific’s fast-growing insurance industry operates in a low-yield environment, but benefits from wealth accumulation and renewed efforts to save for retirement. Kimberly’s exceptional track record will therefore add significant impetus to our capabilities in addressing these client challenges.”

Lomas added: “Kimberly’s breadth of expertise with insurance firms, coupled with her investment market knowledge, positions her well to serve our clients in a more consultative and broad-based manner, while helping them navigate today’s complex investment environment.”

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Despite their growing popularity, particularly in the institutional space, many investors are still unsure what alternatives really are, let alone how they can best be used to diversify risk in a portfolio.

These are the views of Andrew Landman, Head of Client Business for BlackRock.

“Alternatives may be less well understood than traditional asset classes, but the fact is that they can offer great diversification benefits to portfolios struggling in the new, more volatile return environment.”

Mr Landman went on to say that many investors are of the view that traditional portfolio models, such as the 60/40 growth/defensive assets just aren’t working in the current environment, in which returns are down and volatility is up in a way not seen in the past. The question they are asking is how to address this situation.

“There is a growing realisation among more experienced investors that alternatives can offer a way of diversifying by risk source that is potentially very attractive,” he said. “In fact, institutional exposure is rising sharply, and alternatives now account for 16% of the global institutional market.

“Despite this, there remain a number of myths surrounding alternatives, and these may be holding some investors back from seriously considering them,” he said. “At BlackRock, we thought it was timely to de-bunk some of these.”

Mr Landman concluded by saying that when used properly, alternatives can play a vital role in the portfolio.

“A well-constructed portfolio of alternative investments can offer a number of benefits, including downside and inflation protection, diversification along time horizons and a low correlation to traditional market indices,” he explained.

“The key is to be sure to do your homework first. Making portfolio construction decisions in line with your personal risk and return objectives is a sensible way to invest, whether that be in alternatives or any other asset class.”

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