Mason Stevens has welcomed former Australian Ethical executive, David Macri, as head of asset allocation.
Reporting to chief investment officer, Jacqueline Fernley, Macri will be primarily responsible for the strategic and dynamic asset allocation solutions for the firm’s clients running managed portfolios in another step towards evolving the Mason Stevens Outsourced CIO offering.
According to Fernley, he will play an important role in helping advisers evaluate and implement strategic portfolios that aim to enhance investor outcomes.
“David has an enviable track record of investment performance and a broad experience across multi-asset portfolio management and investment strategy,” she said.
“David is highly credentialed in responsible investment which, combined with his investment experience and reputation, make him a valuable addition to the team.”
Macri holds more than 25 years of experience in superannuation and investment management, with proven capability in strategic planning, multi-asset portfolio management and executive leadership.
He was the chief investment officer at Australian Ethical Investment for 14 years until his departure at the end of 2022, overseeing its growth from $500 million in funds under management to $6.2 billion under his tenure.
Reflecting on his appointment, Macri said he is excited to join the wealth platform provider in its key period of growth.
“There is strong personal alignment given Mason Stevens’ focus on meeting the needs of each client, I am confident that together with the very talented team, we will achieve great client outcomes,” he said.
Macri is currently the chair of MarketMeter’s Advisory Board and is an advisory board member of the Australian Estate Management. He previously held executive roles at Macquarie Securities, Credit Suisse Asset Management, Mellon and Mercer.
Earlier this month, Mason Stevens welcomed former Count chief financial and operating officer, Laurent Toussaint, as its CFO, succeeding Wayne Twomey.
It also welcomed former Iress chief executive, Andrew Walsh, as chair of the board in February this year.
