GSAM strengthens retail business

Goldman Sachs Asset Management (GSAM) has bolstered its third party distribution business with the appointment of Ben Daly as key account manager for New South Wales and Queensland.

As a former investment specialist for RARE Infrastructure, Daly will be responsible for relationships with key accounts, dealer groups, platforms and advisers in the NSW and Queensland regions.

He previously held roles at Deutsche Asset Management, Zurich Financial Services and BT Funds Management.

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The third party team at GSAM now sits at eight following the appointments of Jessica Jones (head of third party), Andrew Stadelmann (product specialist) and Nick Green (key account management for Victoria) in the second half of last year.

At the time, GSAM head of Australia Phil Gardner said the company would continue its resourcing efforts for its third party distribution business after the company bought out JB Were's 55 per cent of the business in July 2011.

Jones said the business had plans to add a another key account manager in Melbourne.

"We realise that it's been a really tough time for advisers," she said.

"In order for us to understand what the retail clients need here in Australia, we need to have more relationship managers speaking to advisers, and provide product solutions on the back of that."

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