Mason Stevens hires from State Super

Mason Stevens has recruited former State Super analyst Paul Spence as head of asset allocation.

In the new job, Spence is responsible for developing bespoke strategic and tactical asset allocation solutions for platform clients running managed portfolios.

This latest hire is the fourth this year following the appointment of Tim Yule as chief executive and Jacqueline Fernley as investment chief one month later.

Since her arrival, the Sydney-based wealth platform firm has added former Citi director Ian Weir to its investment team, Andrew Baume as interim head of fixed income and Ben Lemmon from HUB24.

"Paul comes to us with more than 30 years of market experience and a strong background in portfolio construction and quantitative analysis," said Fernley.

"He will be instrumental in helping advisers and managers evaluate and implement disciplined portfolios that aim to enhance investor outcomes."

"As their businesses grow, our advisers are increasingly coming to us wanting help in making investment decisions, whether around asset allocation, strategic execution advice, or representation on an investment committee."

The investment chief pointed out the platform has specialist resources like live trading execution and in-house experts to support that. "This provides advisers with the flexibility to instead focus on their client conversations."

Before joining State Super, Spence worked for AMP, Sustainable Insight Capital Management, Deutsche Asset Management - following the acquisition of Zurich Scudder Investments in 2002- and Barra International.

He also served as regional head of quantitative Investments with DeAM.