The Ascalon-affiliated Arkx Investment Management (Arkx) has started rebuilding its ranks after the departure of co-founder Lisa Wade in January.

Former Arkx non-executive director Tim Buckley has taken up a full-time role with the fledgling boutique clean tech manager, coming on board as managing director and portfolio manager.

Buckley was most recently head of equities/head of research at Shaw Stockbroking, which advises retail clients and has a portfolio of over $5 billion. He also spent more than 10 years at Macquarie Equities as a research analyst in the equity markets and between 1998-2007 was managing director at Citigroup.

Alex Wilkins has also joined Arkx from boutique Sydney corporate advisor Beerworth + Partners where he worked as an associate director specialising in strategic and commercial analysis. Prior to arriving in Sydney, Wilkins worked at Kroll (a Marsh & McLennan company) and PwC Consulting.

Wade reportedly left Arkx to begin Change Investment Management, a fund manager specialising in renewable energy, clean technology and energy efficiency with colleague Nicki Ashton.

Former chief executive of Colonial First State Chris Cuffe remains chairman and co-founder and Geoff Evison will continue as managing director.

Meanwhile, Arkx has finalised a deal with the Westpac-owned Ascalon, which sees the bank pick up a 30 per cent stake in the fund and also invest $5 million.

Buckley said Westpac will have exclusive Australian distribution and the fund would now look to launch into the retail space.