FitzSimons secures co-CIO role at AllianceBernstein

Patrick Buncsi

3 May 2024

Following a five-year succession period, AllianceBernstein (AB) has confirmed that veteran AB member Hamish FitzSimons has been promoted to co-chief investment officer (CIO) of the firm’s Australian arm, ushering forward generational change within the firm’s equities team.

FitzSimons, who steps up from his current role as portfolio manager – Australian value, and head of research – Australian equities, will work alongside the firm’s long-standing CIO, Roy Maslen, until the end of this year.

FitzSimons will ultimately succeed Maslen as standalone CIO later this year, with the latter set to depart from the organisation at the end of 2024.

The promotion formalises the AB equities team’s longstanding succession plan, with FitzSimmons, who joined AB in 2008, effectively co-managing the firm’s entire Australian equities platform with Maslen over the last five years, AB confirmed.

Maslen has been overseeing AB’s Australian equity portfolios since 2005, two years after he joined the firm.

AB acknowledged Maslen as the “driving force behind AB’s flagship and award-winning Managed Volatility Equities (MVE) Fund”.

“Hamish has been preparing to take over the reins from Roy for the past five years,” said AB’s global head of equities, Nelson Yu.

“I am confident that we have the right people and structure in place, and under Hamish’s leadership, AB is well placed to continue to offer differentiated and competitive strategies to our clients.”

Yu added: “Roy’s [Maslen] departure has opened up opportunities for the wider team, and our succession plans ensure a strong and enduring approach to managing client assets.”

Also promoted are Anja Samardzic, who steps up to the role of portfolio manager, Australian equities, from her current role as research analyst, and Sam Gilbert, who steps into Samardzic former role. Both joined the firm within the last two years.

FitzSimons will partner with Samardzic in managing AB’s concentrated Australian equities strategy.

He recognised Samardzic as a “high-performing member of the team” responsible for leading coverage of communications, healthcare, and financial stocks for the past two years.

Similarly, he said, Gilbert has been working closely with Roy in the coverage of energy, industrials, and utilities stocks.

“We believe he is ready to take over lead coverage prior to Roy’s departure,” FitzSimons said.

“The addition of Anja [Samardzic] and Sam [Gilbert] to our team, working alongside myself and [fellow AB Australian equities team members] Eric [Demoiseau] and James [Robertson], has been incredibly beneficial.

“With this structure in place we have increased our capacity for research, and it has allowed us to draw out of quality, unique insights from the team’s diverse backgrounds.”