Macquarie retail push gathers steam
Macquarie Funds Management (MFM) has appointed a new national sales manager to steer its push into the retail market following the announcement back in March it would create a new team to directly distribute MFM products.
FormerBarclays Global Investors(BGI) account manager Cathryn Wise has been hired to establish and lead Macquarie’s retail distribution team, and will report to head of distribution Bruce Murphy.
Murphy says the establishment of the retail funds distribution team is in line with Macquarie’s mandate to mould its investment and support services towards the adviser market.
“Advisers are looking for a level of expertise and service that supports them, meets their needs and provides direct input from investment specialists from each of the major asset classes,” Murphy says.
Wise, who prior to joining BGI was Rothschild Australia Asset Management Queensland state manager, has more than 10 years retail market experience.
She has also held positions withAdvance Asset Managementand Westpac Bank.
Murphy says MFM is now in the process of recruiting business development managers to join the newly created team.
The creation of the new distribution team is the latest move by MFM since announcing the appointment of formerDeutscheretail distribution director Murphy to the position of head of distribution in March.
Murphy has taken over the firm’s retail and institutional portfolios, filling the gaps left by Fiona Dunn and Matt Perrignon who defected toPerpetuallate last year.
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