In a statement Capital Group said it appointed Scott Baker, Nigel Waugh, and Jordan Brown in an effort to “drive Capital Group’s expansion” into the financial intermediary and retail investor segments in Australia.
Capital Group said Mr Baker and Mr Waugh have been appointed as key account managers and Mr Brown has been appointed as head of wholesale sales.
“Like [Mr Brown], Scott Baker joins Capital Group from Perpetual Investments and before that he worked with ANZ Banking Group,” the statement from Capital Group said.
“Nigel Waugh joins the team from Nab Wealth where he was previously a key account manager and investment specialist,” Capital Group said.
The fund manager also said prior to 2014, Capital Group in Australia did not “directly service the retail and financial intermediary segments, a role which was previously filled by Pinnacle Investment Management”.
“The expansion of the team to take direct responsibility for this market segment in Australia is consistent with the Group’s strategy across Asia,” Capital Group said.
“Capital Group’s strategy for growth in Asia will be led on three fronts: expanding distribution capabilities to the retail investor and financial intermediary segments; [and] introducing a range of new and existing global investment strategies to these market segments,” it said.
“In addition to [also] boosting its investment management and research personnel in key Asia centres,” Capital Group said.
