Boutique fund manager Ausbil has announced chief executive, Ross Youngman, will retire in the third quarter of 2023.
Youngman joined Ausbil in 2015 and was appointed as chief executive in 2017. He supported the firm through the introduction of new global strategies and business systems as well as promoting its growth in funds under management.
The chief executive previously managed both Five Oceans Asset Management and Deutsche Asset Management as chief executive and held numerous other senior management positions.
Mark Knight, director and head of distribution at Ausbil, would succeed Youngman as chief executive on 1 April, 2023. He would bring 30 years of industry experience to his new role and had held senior positions at Ausbil since 2004.
Youngman said: “It has been very satisfying to work closely with our clients, both domestically and internationally, and the talented group of executives during my time at Ausbil.”
Paul Xiradis, Ausbil executive chairman and chief investment officer, commented: “We’re totally committed to our clients and the investment performance we’re creating for them. No change there. These developments are consistent with that as well as allowing for the careful growth of our global products.”
He added: “On behalf of our executive team and staff at Ausbil, I would like to thank Ross for his leadership and wish him all the best for his well-earned retirement.”
Ausbil would also initiate a search for its new head of global distribution, a position necessary for implementing the firm’s domestic and international distribution strategy.
