The Q3 fund management movers and shakers

Money Management looks back on the biggest people moves in the fund management world over the last three months. 

This year’s third quarter includes multiple chief executive appointments as well as the exit of several experienced portfolio managers who had worked at their firms for over a decade.

Below, Money Management rounds up the biggest moves:

July 

Founding portfolio manager to depart Blackwattle

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Founding portfolio manager Ray David announced he would be departing from Blackwattle Investment Partners. Prior to joining Blackwattle, he spent 11 years at Schroders as an equity analyst and portfolio manager where he was part of a team managing over $12 billion. He went on to run the firm’s Long-Short 130/30 Quality and Large Cap Quality funds at Blackwattle with colleague Joe Koh.

Australian Ethical manager exits after 20 years

In a second departure, Australian Ethical manager Andy Gracey announced he would be departing after 20 years. Gracey started at the asset manager in 2004 and became a portfolio manager on its flagship Australian Shares Fund in 2008. Gracey handed over portfolio responsibility to the recently appointed head of equities, Nathan Parkin, from the end of September. 

Robeco looks to SSGA for portfolio manager

Robeco, which has $358 billion in assets under management, appointed Michael Lin from State Street Global Advisors (SSGA) as a senior client portfolio manager for equities. At SSGA, he was a client portfolio manager for active systematic equities.

August

IAM appoints former Platinum co-founder

Income Asset Management appointed former Platinum Asset Management co-founder James Simpson to its board as a non-executive director. Executive chair John Nantes and Craig Swanger will retire after the firm’s annual general meeting on 12 November. Simpson also returned to Platinum in February 2025 to lead its investment oversight group.

Regal’s King dethroned from VGI management

Regal announced its chief investment officer Phil King would step down from listed investment company VGI Partners Global Investments (VG1) after the LIC reported a loss of $17.6 million for FY25. VGI Partners is a global equity manager that merged with Regal Funds in 2022, while the portfolio is an active long-short global equity fund.

Magellan’s Thomas departs amid global equities simplification

Fund manager Magellan announced global equities manager Nikki Thomas would depart the business following a review and simplification of its fund range. Thomas had spent almost 15 years at the firm, in two chunks, having worked for 11 years as a portfolio manager and the head of research until 2017 before departing to join Alphinity Investment Management. She then returned in 2022 as a global portfolio manager.

September

First Sentier appoints CEO successor 

Following the earlier announcement that Mark Steinberg would step down as chief executive, First Sentier Group announced it had made an internal promotion and Harry Moore, current chief commercial officer, will take over the role from 1 January 2026, with Steinberg staying on as a member of the board. Prior to becoming CCO, he was the global head of distribution for First Sentier Investors.

Metrics exec jumps to Woodbridge Capital 

Investment manager and non-bank lender Woodbridge announced the appointment of Ben Evans as executive director, origination, accelerating the firm’s national expansion. Joining from Metrics Credit Partners, Evans took over responsibility for new loans and managing client relationships while bolstering the newly opened Sydney CBD office and providing crucial local market expertise.

Channel Capital looks to Pinnacle for distribution hire

Investment solutions provider Channel Capital appointed James Archer as distribution director to work alongside Sam Mirls in Queensland to support the firm’s relationships with financial advisers, family offices, and wholesale clients. Previously with Pinnacle Investment Management, Archer’s appointment brought the firm’s business development team up to 10 staff across Queensland, Victoria and NSW. A spokesperson at the firm said the appointment reflects their commitment to “strong local connections and unwavering service as the firm expands its footprint”.