Global search for CEO
Property manager MacarthurCook has started a global search for a new chief executive officer (CEO) for its Australian operations.
The role has been created as the company’s founder, Craig Dunstan, spends more time expanding the global operations of the fund manager.
“I am spending five to six months a year travelling overseas, so that is why we are looking for a CEO for Australia,” he told Money Management.
“Their role will be to develop and run the Australian operations of MacarthurCook while I develop the business globally.”
The fund manager is also seeking to boost the Australian management team based in Melbourne with new heads of property, institutional business and legal.
The company is also looking for an investment committee chair to run the monthly meetings and mentor junior investment staff.
The head of property position has become vacant because Chris Calvert has moved to Singapore to run the local MacarthurCook office, which now has eight staff members.
Dunstan said the company was expanding its Asian business and looking at acquiring assets in Japan, but there were no plans to open more offices in the region.
“Singapore is a good base on which to build our Asia business and we will use it to look for other opportunities around the world,” he said.
The fund manager has two real estate investment trusts (REITs) listed in Singapore and one in the US, but the company is now looking at Europe for further trusts.
“Europe is about three years behind Asia in the development of REITs,” Dunstan said.
“The big fund managers have moved into Europe and soften the edges, so people are beginning to understand what REITs are and their role.
“We now want to move into the region before everybody else does.”
MacarthurCook is looking for somebody to assist Dunstan in acquiring property assets in Europe and the US.
“We want to create a real presence overseas for the company, as we are already raising capital for our REITs out of Singapore, US and Europe,” he said.
MacarthurCook was founded four years ago this month and now has about $1.5 billion of funds under management.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
