Three fund managers have made appointments to their distribution teams, focusing on the firms’ relationships with financial advisers.
Centuria Capital Group has appointed Dani Dy as a distribution manager for Queensland, responsible for promoting the firm’s investment bonds through intermediary channels.
She joins from Futurity Group, where she was a business development manager (BDM) for three years, and also spent two years in the BDM team at BT.
Michael Blake, head of Centuria Life, said: “Her extensive expertise with education bonds will strengthen our Queensland financial planner relationships as we launch our new Centuria LifeGoals Educations Bond.”
Meanwhile, Ironbark Asset Management has appointed Paula Gigler as its new head of wholesale.
Gigler joins from eight years at BlackRock, where she held a variety of roles, including head of strategic clients and head of key accounts – wealth and high net worth. Prior to joining BlackRock, she spent almost four years at Vanguard Australia and four years at Macquarie Group.
Finally, Watershed Funds Management has hired Michael Pellegrino as a BDM to strengthen the firm’s relationship with clients in NSW, working closely with national distribution manager Shantelle Lay. He joins Watershed from a BDM role at Morningstar and also worked at PwC, Macquarie Group, and St.George’s Bank.
Investment manager Watershed focuses on partnering with advice firms via separately managed account solutions.
Distribution hires have been extremely active in recent months, with appointments by Talaria Capital, Channel Capital, Pinnacle Investment Management, and Bentham Asset Management.
Distribution in the wealth management space has become a focus for fund managers, with the advent of more complex and alternative products, as financial advisers said they rely on business development teams more than ever to explain the intricacies of their firms’ funds.
The annual Funds Distribution Salary Guide and Trends from Kaizen Recruitment found wholesale distribution accounted for 72 per cent of market activity, compared to around 40 per cent for both institutional and retail distribution.
Hiring firms are seeking distribution talent in the wholesale space who can demonstrate deep networks with platforms and research houses, a strong track record of capital raising, and private markets experience.
“Wholesale is growing, thanks in part to the eligibility criteria for wholesale investors, opening the door to more investors. Managed accounts and private credit are gaining momentum, with demand for tailored, outcome-driven solutions on the rise. Wholesale business development managers are hot property, especially those with strong networks and a consultative approach,” the recruiter said.
“This trend reflects a strategic emphasis on servicing wealth management groups and family offices, which are key drivers of growth in the sector. Consequently, wholesale teams are scaling up to meet demand, while institutional teams tend to remain lean and highly specialised – often with just a few individuals covering the entire market.”
