Angela Verco, head of client relationships at Neuberger Berman, said the position has been created as a result of business growth and the increasing regulatory and operational demands facing clients.

“Neuberger Berman Australia’s AUM has more than doubled over the past year, through continued growth in the number of complex tailored client portfolios, which demand high touch and best in class operational oversight.

“It’s imperative we have local expertise to help all of our clients respond to the mounting operational complexity they face, in the form of new regulations and as they adopt new flexible portfolio structures to enable them to respond quicker to new investment opportunities and sources of alpha.

“Ben’s background in both investment management and custody at global organisations will be particularly important in the new role. We are building the team to better support our clients, who are looking for better collaboration not just across investments but also operations and other business functions. Ben’s extensive experience ensures we have the right resources within the business to achieve the best results,” she said.

Mr Canagasabey joins the firm from Franklin Templeton Investments where he was manager – global fund administration & reporting, with responsibility across managed investment funds, real estate funds and listed investment companies.

He has also worked in a range of senior roles at Vanguard Investments, BNP Paribas, ING Australia, Royal Bank of Canada and Perpetual Fund Services.

He holds a bachelor of commerce – accounting and is a Certified Practicing Accountant. Mr Canagasabey is currently completing his master of business administration from Melbourne Business School.

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Ms Verco has 17 years’ experience in the financial services industry. She was most recently with J.P. Morgan Asset Management for 14 years, where she managed relationships for institutional clients and asset consultants across equities, fixed income and alternative asset classes.

Paul O’Halloran, managing director of Neuberger Berman Australia, said “The decision to appoint someone of Angela’s calibre and experience to augment our existing client relationships reflects the increasing complexity of the market in Australia and that our clients’ management teams are increasingly transforming internal business models to meet their board’s strategic vision.

“In the past year we have achieved continued growth in our local business, so this is the right time to expand our team to ensure we have the resources and experience in place to continue providing the level of service and expertise that our clients expect.

“Our Australian clients have entrusted us with over $3 billion of assets under management and advice, invested in strategies across our global platform including equities, fixed income and alternatives,” Mr O’Halloran said.

While expanding local resources, Neuberger Berman is also extending its local product line up. In the coming months the firm will launch a new local unit trust for its Systematic Global Equity strategy which is managed by Wai Lee and Neuberger Berman’s Quantitative Investment Group.

“We are delighted to be able to continue to bring such high quality investment strategies into the Australian market. We expect to continue to selectively introduce additional Neuberger Berman strategies to the Australian market in the coming year,” Mr O’Halloran said.

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