David Tagg has joined the alternative asset manager as head of investments, alongside Catherine Donatiello commencing as head of product support.
The company said the dual appointment will strengthen its senior leadership as it looks to expand its investment offerings.
Tagg has spent more than three decades working across funds management, wealth management and investment banking. He recently served at Commonwealth Bank for over 15 years in a range of positions, including head of wholesale investments and chief investment officer.
Meanwhile, Donatiello spent 18 years at Macquarie Bank managing the investment product management operations within its banking and financial services business, alongside nine years at Deutsche Asset Management.
“We are delighted to have David and Catherine join our team. They add to the scale and experience of our already highly respected executive group and position us strongly for the next phase of our growth,” said Chris Paton, chief investment officer of La Trobe Financial.
As La Trobe looks to deepen its executive capability, it flagged several additional appointments to be announced in coming weeks.
The firm currently manages over $20 billion in assets under management, with its client base comprising major institutions, domestic and international banks, family offices, high-net-worth individuals and retail investors.
It has a key focus on providing Australian real estate private credit products. The La Trobe Australian Credit Fund – its flagship fund – has nearly $13 billion in assets under management, according to the manager.
As alternative assets continue to gain traction among retail investors, global consultancy Bain & Company previously said asset managers not currently in private markets will find themselves forced to acquire or partner to survive in 2025.
Bain & Company expects mergers and acquisitions activity in the alternatives space to only ramp up further, as asset managers expand with new offerings to meet investor demand.
“We believe that the momentum will continue – and possibly accelerate – in 2025, especially as wealth and asset managers not currently in private markets find themselves forced to acquire or partner to survive,” it wrote.
“The most successful traditional asset managers and wealth managers will look for deals that provide them with products that generate alpha for clients, while alternative asset managers will primarily aim to build scale. As the market converges and becomes even more competitive, companies that pursue neither route will find themselves a target for competitors that do.”
