A top executive from Yarra Capital Management has joined the board of a $1.2 billion listed investment company.
Dion Hershan is currently Yarra Capital Management's managing director and head of Australian equities.
He joins the board of Melbourne-based Australian United Investment Company Limited (AUI) as a director.
Prior to joining Yarra Capital, Hershan headed Goldman Sachs Asset Management's Australian Equities for about nine years.
He has more than 20 years of experience in the finance industry, including several roles in America.
He has worked as a fund manager for New York-based Citadel Investment Group's long/short portfolio and as an analyst and fund manager for Boston-based Fidelity Investments's diversified fund.
He has a bachelor of commerce and a bachelor of arts from Monash University. He earned his MBA from Columbia Business School, New York.
Before moving to the USA, he worked at Boston Consulting Group, doing quantitative and financial analysis and managing clients and projects.
AUI'S portfolio had a market value of $1.2 billion as atMarch 31, 2018.
The 55-year old company was founded by Ian Potter, and The Ian Potter Foundation is still its largest single shareholder.
It invests in a diversified portfolio of Australian equities with a long/medium position with the aim of achieving income and capital appreciation over the longer term.
About 40% of its investments were in financials and insurance, as at June 2017. It is invested in the big four banks: CBA (8%), ANZ (7%), WestPac (6%) and NAB (6%).
AUI added Challenger and Macquaire Atlas Roads Group to its portfolio last year.
Dion Hershan's board appointment will come into effect tomorrow.