Macquarie Funds Management goes British
Macquarie Funds Management has announced its plans for a London-based fixed income and currency division, expanding its presence within the global markets for the benefit of its domestic retail and offshore institutional clients.
The London office is to be operational from April 2007, with staff led by Wayne Fitzgibbon, division head of Macquarie Global Fixed Interest and Currency, and Adam Kibble, Macquarie’s head of global markets.
Both will relocate to London for a period during the establishment of the new operation, which will also include its three person global fixed income and commodities team of Justin Balnaves, Shaughn Wilkie and Danny Lo.
Fitzgibbon said: “A London base will enable us to expand our investment team and global fixed income capabilities to cover the full spectrum of opportunities in global fixed income markets.
“This move will enable us to better service our growing UK and European institutional client base in our currency and commodity hedge fund products.”
Fitzgibbon expects the new office to add an extra dimension to the portfolios of the fund managers’ domestic cash, credit and fixed income clients.
He said a great deal of thought and planning had gone into the decision, with the continued support of the division’s Australian clients a prime consideration.
“This decision is as much about looking after our domestic clients’ portfolios,” Fitzgibbon said.
He pointed out that Macquarie Funds Management’s reputation in London was growing, with its recent naming as the “Best Real Money Manager for FX — Asia Pacific” by London-based Euromoney Magazine one indicator of this.
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