Ausbil has revealed that Mr Youngman will be stepping down after serving as CEO since 2017, after joining the firm in 2015.
Prior to his time at Ausbil, Mr Youngman had held several executive positions, including CEO and co-founder of Five Oceans Asset Management, and CEO of Deutsche Asset Management in Australia.
Director and head of distribution, Mark Knight, has been appointed CEO designate and will step into the role to assume full responsibilities effective 1 April 2023.
Mr Knight has three decades of experience and has held senior positions at Ausbil since 2004.
“On behalf of our executive team and staff at Ausbil, I would like to thank Ross for his leadership and wish him all the best for his well-earned retirement,” Ausbil executive chairman and CIO Paul Xiradis said.
Commenting on his retirement, Mr Youngman added, “It has been very satisfying to work closely with our clients, both domestically and internationally, and the talented group of executives during my time at Ausbil. I wish the firm and my colleagues all the very best for the future”.
Ausbil will facilitate a search for a new head of global distribution to continue implementing the investment manager’s domestic and international distribution strategy.
“We’re totally committed to our clients and the investment performance we’re creating for them. No change there. These developments are consistent with that as well as allowing for the careful growth of our global products,” Mr Xiradis concluded.