C-suite executive departs Pengana after 22 years
Chief financial officer, Katrina Glendinning, is to step down from Pengana Capital Group after 22 years.
Glendinning was one of Pengana’s first employees when the firm was set up in 2002, but will now step down after 22 years with the firm to pursue non-executive roles.
Prior to joining Pengana, she spent nine years at BT Financial Group as its executive vice president.
As well as being the CFO, she is an executive director of Pengana Capital and Pengana Investment Management, and is a member of its compliance and risk management committee.
These roles have encompassed responsibilities around strong governance, regulatory leadership, audit and risk oversight, responsible investment, and corporate strategy.
In terms of succession planning, Pengana has appointed Mirjana Crnjak who joined in 2004 and has been its financial controller alongside Glendinning. The role transition will be complete by the end of the year, the firm said.
Russel Pillemer, Pengana’s chief executive, said: “Katrina has played a valuable role in Pengana’s evolution into an innovative leader in the funds management sector, including the development of the firm’s emerging leaders, and had a significant and positive cultural impact. The entire staff, and indeed shareholders, express their sincere gratitude to Katrina for her time with Pengana.”
Glendinning commented: “It has been an incredible journey starting from Pengana's establishment in 2002. I take great pride in the current team, together we have built a brilliant place to work, creating fantastic investor-centred solutions.
“I am delighted that Mirjana succeeds me in this role, she has a deep knowledge of the business, has built a reputation for exceptional financial acumen, strong technical analysis, and an analytical mindset, all essential attributes for success in her new role.”
At the end of FY2024, the firm had $3.3 billion in funds under management, up from $3.1 billion in the previous month. It will pay $62.5 million in distributions (net of reinvestment) in July, which will be reflected in its July FUM update in August.
At the start of the financial year, the firm had $3.05 billion in FUM, demonstrating growth of 9.6 per cent over the 12 months.
This growth has been attributed to developments in its private markets division, including seed funding from Washington H. Soul Pattinson and the IPO of a retail global private credit fund at the end of the financial year.
AUTHOR
Laura Dew
Recommended for you
Several wealth management companies have been shortlisted in the second annual Australian AI Awards program, which champions individuals and organisations pioneering Australian AI innovation.
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
