Schroders researcher Keith Hwang will reunite with his former ING Investment Management (INGIM) team after agreeing to join the breakaway group in their new asset management business.
INGIM Australian equity team directors Paul Cuddy and Mark East resigned in June along with two of the group’s analysts, Michael Chun and Michael Malseed. The group intend to set up their new asset management business in July.
Hwang was previously a senior member of the ING Investment Management’s Quantitative Services team from June 2000 to December 2005.
“We are thrilled to have attracted a fifth team member to our team who shares our vision of growing a successful new asset management business over the long-term,” Mark East said.
“Keith’s experience in designing and implementing front office systems for equities including proprietory research management, multi-factor stock ranking, portfolio construction, portfolio management, risk management and performance and style attribution will be incredibly valuable to our team.”
While it has not been announced who they will be partnering with for their new boutique, it has been rumoured that ex-IOOF’s Jarrod Brown has lured them to incubator Bennelong Funds Management where he is now chief executive.
Bennelong has been boosting its strength in past weeks. Former IOOF colleague Rod Smith has been put on as chief operating officer and two marketing heads have also been added to the lineup.
Brown also snared two directors of sales both from Ausbil Dexia to boost Bennelong’s Melbourne presence and open a Sydney office, Ciaran McAssey in Melbourne and Andrew Aitken in Sydney.
