Equity Trustees appoints Head of Asset Management

Equity Trustees has announced the appointment of Darren Thompson as the firm's new head of asset management, following a review of its in-house asset management function earlier this year.

Thompson has 30 years experience as an investment director & portfolio manager, having co-founded boutique investment firm Northward Capital in 2007, where he held the roles of CEO and CIO, and having previously held roles at Insurance Australian Group (IAG) Limited, Deutsche Bank, and Burdett Buckeridge Young.

He is joined at Equity Trustees by fellow new-recruit, and former Northward Capital colleague, Chris Haynes, who has been appointed as head of Australian equities.

In welcoming them both, Equity Trustees managing director, Mick O'Brien, said: "We're delighted to announce these appointments following a deep analysis of how Equity Trustees can deliver the best outcomes for clients who entrust us with their funds, and rely on us for income from those funds."

He added: "As a contemporary trustee company we must constantly adapt to the changing needs of our clients and markets. We have built our success over 130 years, and these appointments reflect our commitment to continue to invest in our asset management capability for the benefit of our clients."

Equity Trustees confirmed to Industry Moves that Lance Pupelis, the firm's current head of asset management, and Stephen Cleugh, the firm's current head of equities, will be "assisting in the transition."

"Equity Trustees has been fortunate to have committed leadership in the asset management team as we went through the review period, resulting in maintenance of portfolio performance. It provides a solid foundation for the new leadership who will bring their unique energy and outlook to the asset management team," O'Brien said.