GMO head of Aussie equities departs
Tuesday, 9 February 2010 12:55pm
Ric Suvak has left his role as head of Australian Equities at GMO Australia this week for undisclosed reasons - leaving more than $4 billion of funds under management to a member of the group's domestic equities team.
Geoff Wells, who was previously senior quantitative research analyst, has been promoted to the top job effective this week.
In his new role, he will be managing more than a third of GMO Australia's total funds under management, which stood at $10.7 billion as at December according to Rainmaker Data.
He will be working with GMO's Australian equity team, namely Olivia Engel, Mark Thompson, Vikram Mundkur, Brad Grehan and Tommy Tam.
Wells joined GMO Australia in 2008. Prior to that, he worked at Macquarie Investment Management as senior portfolio manager of a style-neutral Australian equity fund.
In a statement referring to the appointment, GMO did not disclose the reasons why Suvak has left the role.
GMO's Australian equity fund returned 31 per cent for the 12 months to December last year while the S&P/ASX 300 benchmark returned 37 per cent, according to Rainmaker.
State Super, Australian Government Employees Superannuation Trust (AGEST), Health Super Fund, CareSuper all have Australian equities investment mandates with GMO.
Michael Hobbs
