Lonsec CEO moves to PIMCO
Lonsec Research chief executive officer, David Erdonmez, will move to global investment management firm, PIMCO, as its senior vice president and account manager.
Reporting to executive vice president and head of PIMCO Australia and New Zealand, Adrian Stewart, Erdonmez will head PIMCO Australia's newly formed Investment Due Diligence Group (IDDG).
Stewart said Erdonmez's experience will help the firm serve its Australian clients.
Erdonmez joined Lonsec in 2012 as the general manager of managed funds research, and moved into the CEO role in July last year.
He has 22 years of investment experience, with fixed income analytical roles at JPMorgan London, and five years at JBWere Capital Markets as a money market dealer.
Erdonmez will begin his role at PIMCO in June.
Lonsec has acknowledged Erdonmez's departure and said the recruitment process to appoint a new CEO Lonsec Research had started.
It said Amanda Gillespie, Joint CEO of the Lonsec Fiscal Group, continues to have a material involvement in and focus on Lonsec Research, and would be stepping back in as acting CEO until this appointment was made.
AUTHOR
Malavika Santhebennur
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
