Morrison adopts partnership model

Morrison & Co has introduced a partnership model for the firm, naming 14 inaugural partners across six countries.

In Australia, the partners include co-head of Australia and New Zealand Geoff Hutchinson, infrastructure expert Mark Mudie, head of asset management Steven Fitzgerald, and head of core infrastructure funds Gordon Hay.

Morrison & Co chief executive Paul Newfield said the move to a partnership model was a natural step in the evolution of the 33-year-old firm.

"Our partnership model has been carefully designed to reinforce the culture that's driven our outstanding track record: a collaborative 'one team' approach, an 'owners mindset' and an intergenerational investment horizon.

"It will also create a clear path for career progression to ensure we continue to attract and retain the best talent as we grow our global team," he said.

Newfield said the mix of partners reflected the firm's strategy of bringing multiple backgrounds and perspectives to each investment.

Some partners are sector specialists who spent the early stages of their career running infrastructure businesses, some came to us from senior positions in global private equity firms, law firms, and strategy consulting firms, others have primarily built their careers within Morrison & Co," he said

"We're investing in building the diverse talent pool required to deliver stand-out investment performance on a global stage. The goal of this inaugural group of partners will be to build from our outstanding track record of the past three decades and to hand a bigger, better Morrison & Co to the next generation."

The chief executive added that an intergenerational perspective is critical since the majority of the firm's clients were ultra-long-term investors like sovereign wealth and super funds.