A former QIC employee has established an asset consultancy service.
Former QIC director Angus O'Gorman has established an investment consulting firm called Round Tower Solutions.
The consulting firm will not represent, recommend or select investment managers, O'Gorman said.
"Specialist independent investment expertise is not readily available to investment industry organisations, particularly investment managers, service providers and regulators," O'Gorman said.
"Whilst asset consultants advise investors, they are not independent of the investment process."
The business has already secured one client and O'Gorman said the firm will be targeting the institutional sector, including superannuation funds, investment managers and multi-managers.
Despite the global financial crisis, O'Gorman said there has been no significant change in the underlying investment processes, either at the investor or manager level.
"Managers and investors must ask themselves how they have learnt from the crisis and what changes they have made. Have they simply ticked a box and moved on?"
While working at QIC, O'Gorman was director of implemented solutions. He is also a former hedge fund manager.
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