Income Asset Management revamps sales

ASX-listed bond broking firm Income Asset Management has hired a team of fixed-income specialists from rival FIIG Securities.

The six recruits will report to IAM's head of sales for capital markets Jenna Labib.

The appointments come one year after IAM tried to buy a controlling of FIIG, the boutique bond investor.

Joining from FIIG as capital market directors are Victor Gugger, Frederick Stewart, Nick Lowings and Darryl Bruce.

The firm has also recruited Sandra Ang from National Australia Bank, where she was a senior Investment relationship manager.

The high-profile Gugger brings over 30 years of experience in financial markets across Sydney, Hong Kong and London.

Before working with FIIG, he worked at ICAP Capital and held several other positions, including a chief executive role at Zova Sports Marketing.

Interestingly, he produced a digital music album for Real Madrid in 2011.

The other executives spent most of their careers at FIIG.

Bruce joins as executive director and head of Western Australia for IAM.

He was the state manager for that state at FIIG and is now tasked with spearheading the firm's entry into that market.

Labib said Bruce brings over 20 years of experience working in the financial services sector across Australia, the UK and New Zealand to the team.

"He has an established track record in fixed-income investing and, importantly, in managing a small team as a business. He is a great addition to IAM as we mark our entry into the WA market," she said.

Also joining are Ellen Allardice and Harry Roberts, who have been appointed associate sales directors covering Perth and Brisbane, respectively.

Labib said the new appointments bring additional fixed-income experience and expertise to the IAM team, and mark

IAM's strategic expansion into Perth, extending its reach beyond its existing offices in Sydney, Brisbane, and Melbourne.

The sales head added that IAM is seeing significant growth in enquiry from advisers nationally, looking for a transparent way to buy income assets.

"Rates have been rising and competing growth assets face headwinds, it is a great market for fixed income."
Against this backdrop, Labib went on to say, IAM has forged partnerships with platforms like HUB24 and Netwealth and is proactively building a powerhouse team to capitalise on these favourable market conditions.

"IAM has a vision for the sector's growth and is committed to bringing client-focused fixed-income solutions to Australian investors and establishing a firm foothold as the pre-eminent fixed-income broker in Australia."

She said with the addition of these new appointments, IAM is well on the way to achieving that goal.

IAM chief executive Jon Lechte added that the seven newcomers nearly double the client-facing team, enabling the boutique to manage the increasing deal flow.

"We are delighted to have recruited seven talented revenue writers to join our high-performing sales team," he said.

In other moves, IAM general counsel Cameron Coleman will also take on the role of chief operating officer.

Coleman has held senior roles at Citi, Shaw & Partners, FIIG, and Wilson HTM Investment Group.

The asset manager's head of operations, Kim Henry, will run platforms and partnerships within capital markets.

"Kim's expertise and strategic vision will be instrumental in driving IAM's growth trajectory," Lechte added.

Finally, Lachlan Marshall has come aboard to replace Henry as head of operations, reporting to Coleman.
Marshall held a similar role at FIIG for nearly nine years.