Boutique recruits Macquarie's Matt Long

Boutique asset management company Dalton Nicol Reid has recruited former Macquarie Bank executive director Matt Long as its new head of strategic development with a mandate to broaden the group’s distribution platform and seek out new strategic alliances.

Announcing the appointment today, Dalton Nicol Reid chief executive Harley Dalton said Long would assist in facilitating the next stage in the firm’s growth.

For his part, Long, who established and managed Macquarie’s Singapore equity derivatives business and more recently assumed the role of global head of retail funds sales within Macquarie’s funds management division, said independent firms such as Dalton Nicol Reid were well placed to take advantage of the shifts currently influencing the Australian asset management and financial advice industries.

He said there had been strong interest from institutions looking for medium-term alpha and from dealer groups disenchanted with their traditional, big brand managers.

Long said the firm was looking at acquisitions and strategic partnerships to penetrate across and up and down the value chain and expected to announce a significant deal in the second quarter.