Perpetual ‘takes credit’ from Macquarie
By Liam Egan
Perpetual Investments has secured the services of three Macquarie Funds Management credit specialists to bolster its asset management team.
Head of credit Michael Korber, and two colleagues Vivek Prabhu and Greg Stock, who collectively managed Macquarie’s credit-based investment portfolio, left the group late last month to join Perpetual.
Perpetual chief investment officer Emilio Gonzalez describes the appointments as a “demonstration of Perpetual’s ability to identify, attract and integrate new asset management capabilities”.
“[The appointments] will enable us to offer additional income products for our retail, masterfund and institutional clients,” he says.
Gonzalez says the new team will be entrusted with mirroring the group’s property securities and infrastructure businesses, which have both developed into strong performers by launching additional products into the retail, masterfund and institutional space.
Meanwhile, Macquarie has appointed fixed interest research director, Dean Stewart, to replace Korber as head of credit.
Macquarie’s fixed interest and currency division head, Wayne Fitzgibbon, says Stewart has been integral to the development of the firm’s investment capability for managing credit securities.
“He has authored virtually all of Macquarie’s extensive research into corporate-debt and asset-backed securities, dating back as far as 1997,” Fitzgibbon says.
Fitzgibbon adds that Stewart is an experienced portfolio manager, having managed Macquarie’s enhanced Australian fixed interest portfolios for many years.
Macquarie associate director Brett Lewthwaite will join Stewart in managing the credit portfolios.
He has been product manager for credit enhanced cash and Australian fixed interest for over two years.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
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.
