IAM bolsters fixed income executive team

Income Asset Management Group appointments fixed income

5 April 2024
| By Jasmine Siljic |
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Income Asset Management (IAM) has announced seven appointments in its fixed income team as the firm strengthens its reach across Australia.

The asset manager’s seven hires span across Perth, Sydney and Brisbane, with all reporting to IAM’s head of sales for capital markets, Jenna Labib.

Darryl Bruce has been appointed as executive director and head of Western Australia, where he will spearhead the firm’s entry into the Western Australian market. He joins from FIIG Securities where he was the state manager for Western Australia.

“Darryl brings over 20 years’ experience working in the financial services sector across Australia, UK and New Zealand to the team,” said Labib.

“He has an established track record in fixed income investing and, importantly, in managing a small team as a business. He is a great addition to IAM as we mark our entry into the WA market.”

Ellen Allardice will accompany Bruce as associate director of capital markets, who also joins from FIIG Securities.

IAM strengthened its fixed income sales team in Sydney with the appointments of Victor Gugger, Sandra Ang, Frederick Stewart and Nick Lowings.

Gugger brings more than three decades’ experience to the role, while Ang joins from NAB as a senior investment relationship manager. Meanwhile, Stewart and Lowings have moved from FIIG in the private clients team.

Finally, the asset manager appointed Harry Roberts as the Brisbane-based associate director of the sales team.

According to Labib, the firm is observing a substantial rise in adviser enquiries across Australia as they seek transparent ways to purchase income assets.

“Rates have been rising and competing growth assets face headwinds; it is a great market for fixed income. Against this backdrop, IAM has forged partnerships with platforms like HUB24 and Netwealth, and is proactively building a powerhouse team to capitalise on these favourable market conditions,” she said.

“IAM has a vision for the sector’s growth and is committed to bringing client-focused fixed income solutions to Australian investors and establishing a firm foothold as the pre-eminent fixed income broker in Australia. With the addition of these new appointments, IAM is well on the way to achieving that goal.”

In 2021, the investment firm appointed former UBS investment specialist, Jonathan Baird, as its chief executive.

Baird was most recently the head of client service and marketing for Australia and New Zealand at Western Asset Management, and previously held senior roles with Zenith Investment Partners.

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