Bennelong Australian Equity Partners (BAEP) chief executive, Paul Cuddy, will leave the business at the end of August with his role to be restructured and spread among two BAEP executives.
BAEP said that Director Quantitative Research, Keith Hwang, and newly appointed Investment Director, Julian Beaumont, will take on the duties currently held by Cuddy who will transition out of the role over the next five months.
His departure from BAEP marks his retirement from the industry with BAEP stating he would spend more time with his family and leaves BAEP with over $4.8 billion in funds under management spread across three investment strategies.
Beaumont recently joined BAEP from Investors Mutual where he worked for seven years and held the roles of Portfolio Manager of the Future Leaders and Industrial Share Funds.
BAEP chief investment officer Mark East will remain is his role which is unchanged and will see him lead portfolio construction and investment strategy at the group.
Bennelong Funds Management chief executive and BAEP director Craig Bingham said Cuddy’s role in growing the boutique business and brand in the retail and institutional markets was to be commended.
Cuddy said that his departure after seven years comes at a time when BAEP is in a strong position and “my role in building the investment process, team and client channels is effectively complete”.
