Wheelhouse Partners completes restructure

Wheelhouse Partners has appointed Anthony "Tony" Hammond as chief operating officer. It's part of the transition to a new business structure as part of its acquisition of Bennelong Funds Management's stake in its business.

Hammond spent more than eight years with Paradice Investment Management as chief operating officer. He also held senior roles with St George Bank and was the head of external fund manager relationships with BT.

While volatile market conditions have played to our strengths, we remain steadfastly committed to the core objectives on which Wheelhouse is founded; to generate a reliable, consistent income stream whilst preserving investor capital from market downturns," Wheelhouse managing director Alastair MacLeod said.

"For the first time in decades, investors are facing falling dividends, fewer traditional income yielding options and inflated asset prices across the board, which is transferring more risk to capital bases.

"Our global strategy seeks to address these concerns, targeting a high-income yield whilst safeguarding our investors' capital.

"The time is right for a differentiated investment approach and we are excited to be in a position to invest in our business and create solutions for investors to help navigate this challenging environment."