Apostle hires ex-Origin Energy trader

Luke Donovan
Apostle Funds Management Pty Limited - Partner - Global Carbon Markets
Date: 7 November 2022
Position: Partner - Global Carbon Markets
By Elizabeth Fry

Apostle Funds Management has added a long-standing energy trader to its investment team to oversee its global carbon markets business.

Luke Donovan's appointment bolsters Apostle's experience in the impact, ethical and net zero space ahead of its Global Carbon Credit fund launch.

Donovan joins from the Commonwealth Bank where he ran the lender's carbon emissions trading.

As executive director, of CBA's carbon and power markets business, he established the bank's presence in the Australian carbon market.

Before the 18-month stint with Australia's largest bank, Donovan worked at the Ilwella family office as an investment and strategy adviser.

He arrived from Origin Energy where he spent a decade as head of energy and portfolio trading.

Commenting on the appointment, Apostle managing director Karyn West said Donavan's rare technical skill set and deep sector expertise with global carbon markets were critical to the fund's strategic positioning in providing client solutions.

"I was seeking to partner with a fund distribution and product management group that could support the creation of products relevant to this market amid shifting demand," added Donavan

"Apostle is a great natural fit, I welcome a collaborative partnership in delivering sophisticated products and services to the institutional market in global carbon markets".

The recruit believes Apostle can provide uniquely positioned alpha-oriented products to meet the demands of institutional markets.

Building on the appointments of its first chief operations officer Eric Chu, and ESG advisor Kylie Parkyn this year, the announcement reinforces Apostle's growing investment product suite given the new People and Planet fund and Ethical High Yield Credit Fund.

"We have the right expertise and products to deliver institutional-grade ethical and impact strategies for our clients, West continued.

"We have seen an enormous shift in demand from clients, and we felt there was a limited selection in the market to meet new sustainable requirements.

"This is why we have curated a team of specialists to support our holistic investment strategy."