Ausbil announces several promotions, new CEO

Ausbil Investment Management is strengthening its focus with a repositioning of its senior leadership team.

Ausbil founder Paul Xiradis will become executive chairman, in addition to his current position of chief investment officer and head of equities.

Ross Youngman, former head of institutional business, has been elevated to chief executive, with responsibility for business oversight and strategy.

Mark Knight, former head of retail business, has been promoted to head of distribution and will take responsibility for the overall distribution strategy at Ausbil.

"I'm excited about the future of Ausbil and the improvements we have made within the leadership team, but most importantly the successful management of our client's funds remains sacrosanct," Xiradis said.

"This repositioning is all about intensifying our pursuit of credible, long term outperformance."

Earlier this month, Ausbil was awarded a $48 million Australian equity mandate by Uniting Financial Services.

The portfolio, managed by Xiradis, is a large cap, long-only Australian equities offering, targeting outperformance across all market conditions.

"We are delighted to welcome Uniting Financial Services as a client," said Youngman.

"This is a long term business and the mandate win reflects the continued demand from institutional investors for an experienced team like Ausbil that has performed consistently over long periods."

Ausbil secured a $330 million Australian equity mandate from MTAA Super late last year.

Read more: Ausbil Investment ManagementUniting Financial ServicesMark KnightMTAA SuperPaul XiradisRoss Youngman
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