HFA chiefs step down
The joint managing directors of HFA Asset Management, Oscar Martinis and Robert White, have resigned from the group.
Martinis and White have been with the hedge fund manager for nine and seven years respectively. They will be replaced by former Credit Suisse Asset Management head of distribution Craig Mowll as chief executive of the listed asset management group.
HFA Holdings chief executive Spencer Young said Mowll would "inject fresh leadership and perspective into the Australian business as it seeks to enter a new growth phase following the challenges of the GFC".
Mowll's experience includes acting as head of distribution, client and technical services for the margin lending and stockbroking divisions of St George Bank, as well as Advance Asset Management.
Last September HFA Asset Management's chief investment strategist, Jonathan Pain, also left the group.
HFA Asset Management has fought a number of battles with the management of HFA Accelerator Plus this year over the details of an investment management agreement.
The group has pointed to improving conditions for its flagship fund after a rocky 2008 and 2009.
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