UBS AM appoints AU leadership as Telfer departs
With UBS Asset Management chief executive, Alison Telfer, set to join Schroders, the firm has appointed an interim successor.
It was announced last week that Telfer would be taking over as chief executive of Schroders to replace Simon Doyle who departs after 22 years at the fund manager.
Telfer has worked at UBS since January 2022 and previously worked at BlackRock for eight years in a variety of roles.
As well as her leadership roles, she also chairs the funds management committee at the Financial Services Council and sits on its board.
A spokesperson for UBS Asset Management told Money Management that a replacement has been found for Telfer on an interim basis and the post will be filled in due course.
Taking up the position is Nick Hughes, co-country head and chief operating officer (COO) for UBS Australasia. He will now become head of UBS Asset Management AU/NZ on an interim basis, having worked at UBS for 30 years.
He joined UBS in 1995 as managing director of the general industrials before being promoted to managing director and deputy group COO for AU/NZ in 2011. He was then promoted to group COO in June 2012.
Hughes is also chair and board member of the Australian Financial Markets Association.
This is the third major CEO move in recent week as L1 Group, formerly known as Platinum Asset Management, appointed Julian Russell as its new CEO to replace Jeff Peters who departed with immediate effect.
Peters was appointed in December 2023 to succeed Andrew Clifford, who stepped down as CEO after five years. He had previously been based in the US, working at firms such as Putnam Investments and Columbia Threadneedle and ran the asset management practice at McKinsey.
Russell was formerly CEO of vehicle management company FleetPartners and was formerly co-head of financial institutions at UBS Investment Bank.
Meanwhile, Caroline Gurney, chief executive of philanthropic investment group Future Generation also stated she will step down at the start of 2026. She had taken up the leadership position of the $1.4 billion group in October 2021 and the firm has appointed Lee Hopperton to take over on an interim basis.
AUTHOR
Laura Dew
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