Ausbil undergoes personnel reshuffle, with Grace to depart
Ausbil has announced widescale changes to its management line-up, with a significant restructure of its Australian equities and emerging companies investment teams.
The changes were triggered by the forthcoming departure of veteran portfolio head John Grace.
The outgoing Grace, whose tenure with Ausbil spans 23 years, was hailed for his “significant contribution” to the firm’s growth story and his key role in “shaping the Australian equity process”.
Stepping into Grace’s role as co-head of Australian equities and as portfolio manager for the Australian emerging leaders fund is David Lloyd, with the pair to serve alongside one until the former’s retirement at the end of this year.
Among the new appointees to Ausbil’s equities team include Nicholas Condoleon, who steps up from his current role as senior portfolio manager of large caps, to a new role as deputy head of equities, Australian long only.
Condoleon will also retain his role as portfolio manager for the Ausbil active sustainable equity fund, with Måns Carlsson, current head of ESG, also appointed co-portfolio manager for Ausbil’s flagship sustainable strategy. Carlsson also retains his head of ESG role.
Chris Smith will step up from deputy head of equities research to now lead the function. Smith will also retain his current support role for Ausbil’s 130/30 focus fund and as co-portfolio manager of the long short focus strategy.
Stella McMullen, currently an equities analyst since joining the firm in 2022, has been appointed to Smith’s former role as deputy head of equities research. This will involve day-to-day proprietary stock research, qualitative reporting, and earnings modelling.
Gian Pandit will serve as deputy head of equities for Ausbil’s Australian delta adjusted strategy. Pandit will also continue as lead portfolio manager for the firm’s 130/30 focus fund and long short focus fund.
David Lloyd, the newly appointed portfolio manager for the Australian emerging leaders fund, and Arden Jennings, portfolio manager of small and microcaps, will now serve as co-heads of Ausbil’s Australian emerging companies strategy, overseeing investments outside of the ASX Top 50.
Jennings and Andrew Peros will also remain joint portfolio managers for Ausbil’s smallcap and microcap strategies.
Commenting on the personnel reshuffle, Ausbil chief executive Mark Knight expressed his confidence in the new appointees and outlook for the business.
“Australian equities are in great shape and we’re ambitious for our global funds both at home and abroad. We’ll maintain a steady, methodical approach to everything we do”, Knight said.
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