Pengana Capital has appointed John Hamer as an executive director. He will be responsible for developing new institutional business for the fund manager.

Hamer was previously senior vice president of Nicholas-Applegate Capital Management. He has 20 years experience in the investment industry and has held institutional business development roles with a number of high profile fund managers.

“John’s experience and understanding of the institutional market will provide a significant boost to Pengana’s future growth prospects in Australia,” said Pengana head of distribution Denis Carroll.

Chief executive Russell Pillemer said Hamer’s appointment was proof of Pengana’s desire to be a significant player in the institutional market.