The first major part of the integration of Westpac Investment Management (WIM) and Rothschild Australia Asset Management (RAAM) has been finalised with the appointment of Guy Strapp as the investment managing director of the combined company.
Recruited by RAAM chief executive officer Peter Martin, Strapp, who will report to Martin, will head up the combined company’s integrated investment team of 70 people.
RAAM and Westpac formed a selection committee to appoint this integrated investment team, with interviews conducted for those roles that were duplicated in the formation of the combined company. It has not been confirmed if jobs were lost in this process.
While the investment team will officially take residence in Rothschild’s Sydney office at the end of July, Strapp commenced in his new role last week.
Strapp was previously the managing director of Citigroup Asset Management in Japan and managing director of JP Morgan Investment Management in Australia.
Rothschild’s current chief investment officer Jonathon Pain will remain in his position and will be responsible for fixed interest, portfolio management and economic research.
Meanwhile, Westpac’s chief investment officer, Don Hamson, will become the general manager of investments of the combined company, specifically responsible for risk management across all asset classes.
Rothschild’s current head of equities Andrew Brown will become head of Australian equities, with Callum Burns maintaining his role as head of global asset allocation. The position of head of alternative assets will remain with Richard Keary.
