Western Asset Management has announced the appointment of Damon Shinnick as portfolio manager/senior credit analyst in the firm’s Australian fixed income team.
In his new role, Shinnick will help formulate portfolio strategy and supplement credit research in Australian and New Zealand markets. He will also assist the fixed income team to develop new products and structured credit to meet the changing needs of Australian investors.
Shinnick has recently returned to Melbourne from the UK, where he spent two years as a partner at Pension Corporation, a pension benefit administrator specialising in buy-out deals. During this time he established and led the firm’s credit research process and managed a portfolio of UK and European corporate and structured credit.
Prior to that, he was a portfolio manager at Lehman Brothers Asset Management Australia and portfolio manager/senior analyst at Challenger Financial Services. Shinnick began his career at HSBC Asset Management Australia as a quantitative analyst.
“Damon brings with him a wealth of experience in Australian, UK and European markets, across portfolio management, credit research, asset allocation and risk management,” said Anthony Kirkham, Western Asset head of investment management Australia.
Kirkham said the firm had recently reached $11 billion of funds under management, making this “an opportune time to expand the team and position domestic business for continued growth”.
In Australia, Western Asset manages funds on behalf of both institutional and retail clients, using strategies comprising cash, enhanced cash, credit, multi-sector and liability-driven capabilities. The firm’s flagship core fixed income strategy invests in all major sectors of the Australian fixed income market. It is accessed via individual mandates and distributed to retail channels via the Legg Mason Australian Bond Trust.
