(Pictured: Adam Lancaster)
Two of Ausbil Investment Management’s stalwarts, Adam Lancaster and Mark Reilly, have left the firm to take a break from the industry for a while. Reilly, the chief operating officer, has been replaced by Simon Blakers while a search for Lancaster’s replacement is nearing completion.
Blakers, who started at Ausbil last month for a handover period with Reilly, was group head of risk and insurance at Lend Lease, where he worked for the past seven years. Before that, he was in the corporate department at PwC.
Reilly was at Ausbil for about 10 years and Lancaster, the director of distribution, for 13 years. Both have seen strong growth at the firm, with assets under management rising beyond boutique status to just over $10 billion. Both were shareholders.
Staff ownership of the firm has continued under its new partnership with New York Life subsidiary Candriam. New York Life bought the global business of former partner Dexia Asset Management early this year.
Lancaster says he will take a long vacation, spend time with his family, and contemplate a new challenge some time next year. Reilly has held senior positions at various financial services firms over the past 25 years, including JP Morgan, State Street and, just prior to Ausbil, at Deutsche Bank. Lancaster started his career at Rainmaker Information before moving into funds management sales at Schroder Investment Management followed by Ausbil.
Ausbil was founded in 1997 as an equities boutique by Paul Xiradis, who remains at the helm as chief executive officer and head of equities. The firm is still predominantly an equities shop, although it does have balanced and other strategies and is introducing some from Candriam, including a dynamic alpha fund.