Merrill Lynch overhauls investment team

FormerHunter Hall Internationalchief investment officer Kim Tracey, who departed from the group a week ago today, has been appointed as a senior fund manager byMerril Lynch Investment Managers(MLIM.)

MLIM has also relocated London-based Russell Maddox to the role of co-chief investment officer in Australia after two years in the UK heading up the group’s fixed income operations for Europe, the Middle East and Africa.

Tracey, to be based in Merril Lynch’s Sydney office, will join the group’s Australian equities team in February 2004.

Maddox will also be Sydney-based and remain focussed on fixed income along with multi-asset classes when he joins the group’s Australian operations’ along with Tracey in February.

Maddox will work alongside managing director Maurice O’Shannassy, who is also co-chief investment officer, and who remains responsible for equities and property.

Tracey will report to MLIM head of Australian equities Mark Himpoo, while head of asset allocation David Hudson and head of fixed income Steve Miller are to continue in their roles and will report to Maddox.

At Hunter Hall, Tracey was responsible for the group’s investment team, monitoring the stock research process, and portfolio construction, and prior to that was an international equities analyst with BT Funds Management.

The group says the appointments are part of its ongoing focus on developing its investment capability.

“Both Russell and Kim add significantly to the depth of MLIM's local investment teams. It enables us to consolidate and build on progress in our investment processes and performance,” O’Shannassy says.