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Mason Stevens nabs former Australian Ethical CIO

By Jessica Penny
3 minute read

The wealth platform provider has named a new head of asset allocation.

Mason Stevens has announced the appointment of David Macri as head of asset allocation, who brings more than 25 years of experience in investment management and superannuation to the role.

Notably, Mr Macri had a 14-year stint at Australian Ethical Investment as chief investment officer (CIO) before departing the ASX-listed company at the end of 2022.

Currently, he is chair of MarketMeter’s advisory board, in addition to serving as an advisory board member of Australian Estate Management.

He has also held roles at Macquarie Securities, Credit Suisse Asset Management, Mellon, and Mercer.

Moreover, Mr Macri is a CFA charterholder, holds a graduate diploma in applied finance and investment from the Financial Services Institute of Australasia, and holds a bachelor of science in advanced mathematics from Macquarie University.

As head of asset allocation, he will be primarily responsible for the strategic and dynamic asset allocation solutions for Mason Stevens’ platform clients running managed portfolios.

According to the firm, Mr Macri will report to CIO Jacqueline Fernley to continue to “evolve” the Mason Stevens Outsourced CIO offering.

Commenting on the appointment, Ms Fernley explained: “David has an enviable track record of investment performance and a broad experience across multi-asset portfolio management and investment strategy.

“David is highly credentialed in responsible investment, which combined with his investment experience and reputation, make him a valuable addition to the team,” Ms Fernley continued.

“He will play an important role in helping advisers evaluate and implement strategic portfolios that aim to enhance investor outcomes. We look forward to welcoming David to the team.”

Mr Macri added: “I am excited to be joining Mason Stevens during such a key period of growth.”

“There is strong personal alignment given Mason Stevens’ focus on meeting the needs of each client, I am confident that together with the very talented team, we will achieve great client outcomes.”

The appointment follows the recent hire of chief financial officer Laurent Toussaint, who formally joined the team earlier this month.

Mason Stevens chief executive Tim Yule said in July: “Laurent’s strategic guidance and financial acumen, coupled with his track record of providing effective leadership, and experience in the IT and wealth sectors, made him a perfect fit for Mason Stevens.

“We’ve set our sights on ambitious growth targets and the CFO is an important part of that journey. We look forward to welcoming Laurent to Mason Stevens and benefiting from the valuable contribution he’ll make to delivering our growth strategy.”