Justin Cowper left his position as head of institutional business at Tyndall Investment Management to take on a wider distribution role at another manager that he said he could not identify yet.
Craig Hobart, acting managing director of Tyndall, said Mr. Cowper would not be replaced.
Suncorp, the owner of Tyndall, is currently reviewing the future of its asset management strategy, with the sale of the unit a distinct possibility.
Nevertheless, Mr. Hobart said retail inflows in the last quarter were a record for the manager, and there was a “strong pipeline” of institutional interest. He noted Tyndall’s fixed-interest capability, which emphasizes liability matching and genuine defensiveness, was proving especially popular with insurance companies that had “derisked” their statutory fund portfolios during the credit boom.
Michael Bailey is editor of I&T News in Sydney.
