Former Platinum Asset Management co-founder James Simpson will take up a non-executive role at Income Asset Management (IAM) as two directors retire.
In an ASX statement, IAM said executive chair John Nantes and Craig Swanger will retire after the firm’s annual general meeting on 12 November. Nantes joined the board in 2017 and was appointed as chair in 2019, while Swanger also joined in 2019.
Sitting alongside Simon Maidment and Danielle Press, IAM said the pair had “helped steer the company through a process of consolidation to focus on core product offerings delivering the most efficient business model for IAM”.
In light of the move, Simpson has been appointed as a non-executive director, chief executive Jon Lechte will join the board as managing director and Press will become chair, working with Nantes to ensure a smooth handover.
Simpson is currently on the board of Platinum and was one of the company’s co-founders in 1994 until his retirement in 2007. Since his retirement, IAM said he has worked at his own family office with a focus on bonds and private credit.
“These changes are being progressed in furtherance of the company’s commitment to enhancing governance initiatives through board renewal and moving towards a board that is composed of a majority of non-executive directors.”
Simpson said: “I am excited to be considered for a board position at IAM. As a big supporter of the business model, I feel that the company is very well-positioned to take it to a wider client base. We stand in the foothills of a major bull market in the Australian income asset space where we are well behind similar markets overseas despite being the world leader in superannuation.”
This is the second recent fund management move for Simpson as he returned to Platinum in February 2025 to lead its investment oversight group. He initially came back as a non-executive director in November 2024 and has now taken a hands-on executive role on the committee.
Last year, the firm announced seven appointments in its fixed income team spanning Perth, Sydney and Brisbane. IAM has been observing a substantial rise in adviser enquiries across Australia as they seek transparent ways to purchase income assets, it said.
Head of sales for capital markets, Jenna Labib, said: “IAM has a vision for the sector’s growth and is committed to bringing client-focused fixed income solutions to Australian investors and establishing a firm foothold as the pre-eminent fixed income broker in Australia. With the addition of these new appointments, IAM is well on the way to achieving that goal.”
