Regal has appointed a new chair-elect from AIA Australia who will to take over from outgoing chair Michael Cole.
Peter Yates will join the board as an independent non-executive director and will stand for chair election at its annual general meeting on 28 May.
Yates is currently chairman of life insurer AIA Australia and was previously chief executive of private equity investment firm Oceania Capital Partners from 2004-2007. He also spent 15 years at Macquarie Group.
In an ASX statement, Regal praised Yates’ experience across financial services and public companies as well as his relationships with the investment community in Australia and Asia.
Current chair Cole, who has sat on the board since June 2022, will retire on the same day.
Cole said: “It has been a privilege to help lead Regal Partners through a period of transformational growth. Over the past four years, the business has materially expanded its investment capabilities and client base, and strengthened its operating platform, while simultaneously maintaining strong long-term investment performance across a range of strategies.
Yates said: “Regal Partners has established itself as a leading alternative investment manager in Australia, with a diversified platform and impressive investment track record, underpinned by a strong culture of collaboration, discipline and alignment with investors.
“I am pleased to be joining the board and look forward to working closely with management to support the delivery of long-term value for shareholders.”
The Regal Partners board consists of outgoing chair Cole, executive director Ian Gibson, independent non-executive directors Sarah Dulhunty and Jaye Gardner, and chief executive Brendan O’Connor.
In its 2025 results, it reported funds under management (FUM) of $20.9 billion, up 16 per cent over one year. Net FUM inflows were $1.5 billion, with positive investment performance of $3.2 billion.
Statutory 2025 net profit after tax was $130.5 million, up 97 per cent on the prior corresponding period.
O’Connor said: “We believe Regal Partners is better positioned than ever to continue to grow. Our increasingly diversified investment capabilities, strong investment performance track records, operating platform and highly aligned team provide a strong foundation to capitalise on attractive opportunities across asset classes. Our focus remains clear: delivering strong long-term performance for clients while creating sustainable value for shareholders.”
