IML overhauls staff retention strategy
Friday, 5 September 2008 12:30pm
Investors Mutual Limited (IML) revamped its investment team's equity package as part of an overall review designed to retain a consistent team of analysts.
Anton Tagliaferro, IML managing director and investment director, said the firm reviewed its staff retention and recruitment policy to retain employees in the long term.
"We've put together a broader equity package for the investment team and we've also spent a lot of time with the people there talking about their career paths going forward," he said.
"We had an equity package before, but it wasn't as widespread as the current one. The one we're putting in place is more widespread amongst the investment team and it's also on fairly attractive terms."
Last month, Standard & Poor's revised its ratings on IML's small cap funds from ‘four stars' to ‘two stars', due to a concern about the firm's ability to retain staff.
IML has begun rebuilding its investment team, hiring Julian Beaumont as an equities analyst. Beaumont previously worked in London as an equities analyst at ING and a number of other firms.
In addition, IML hired former Paul Winter, former Bear Stearns analyst, and Andrew Harrison as quantitative analyst's.
Following the departure of senior portfolio manager, Paul Frost and equities analyst Shaun O'Malley in February, Tagliaferro restructured the firm's investment team along sector lines instead of large and small cap divisions. A strategic decision, Tagliaferro said, is proving successful at this stage.
Michael Hobbs
This story was found at: http://www.financialstandard.com.au/news/view/23945
Printed: Tuesday, 6 January 2009 2:36pm