Loftus Peak, a boutique equities house, is expanding its remit with the appointment of a professional funds management chief executive. Rick Steele has had a long career in the industry, including several senior roles at both big and small companies.

Alex Pollak, the Loftus Peak founder, a former finance journalist at the Sydney Morning Herald who went on to become a celebrated media analyst on the sell-side, said: “At the outset I took on the combined role of CIO and CEO, which was appropriate for a firm in its infancy. Now we are approaching $100 million in client funds under management, the firm requires a dedicated CEO. Rick’s appointment is an important step in the development of the company.”

Rick Steele said: “The funds management landscape is changing rapidly in Australia and Loftus Peak’s independent positioning and sound investment process means the firm is well placed to be a global equity manager of choice. I am looking forward to the challenge the role offers.”

Steele is a founding director of Loftus Peak (in 2014) and is well known in the funds management industry, having been a key member of the BT Funds Management team for over a decade, as well as former CEO of the small-cap manager Eight Investment Partners and a director of Spectrum Funds Management.

At Loftus Peak, he has joined a well-known fund manager, Paul Davis, with whom he launched a fintech investment company in the early 1990s. Davis is still one of the big names in the Australasian fintech industry.  At Loftus Peak, he is a research advisor.

– G.B.