Blue Sky Alternative Investments is still searching for a chief executive and a chief risk officer, but it begins 2019 with a new chief financial officer as it reboots its executive lineup.
Elizabeth Walker starts as Blue Sky Alternative Investments' chief financial officer on January 14, after working in CFO roles at RPG Developments and Consolidated Pastoral Company.
"Walker has an extensive finance career and diverse background across listed, private equity backed and privately owned companies...Her industry experience encompasses property development and investment (residential, commercial, retail, industrial and retirement), construction, agriculture, investment banking and the funds management sector," Blue Sky said in company filings on December 24.
Walker holds an MBA from the University of Queensland, is a chartered accountant and a member of the Australian Institute of Company Directors.
Blue Sky still has two key roles to fill: the chief executive role that was vacated when Robert Shand resigned in April "to rebuild market condience"; and a newly-created chief risk officer role announced in May of last year.
"The process to appoint a permanent CEO and a new CRO is well-underway and announcements will be made in due course. The CEO and CRO are the key executive roles to fill, in addition to the CFO role of course," a spokeswoman for Blue Sky said.
Blue Sky Investments is currently renewing its management and board lineup, after US activist short seller Glaucus targeted it in March 2018 for exaggerating its fee-earning assets under management.
Blue Sky initially denied the allegations, requesting ASIC to intervene but later conceded, revising its fee-earning AUM guidance for FY18 from $4.25-4.75 billion to $4-4.25 billion. Underlying net profit after tax guidance was revised from $34-36 million to $20-25 million. The management fall out saw the managing director Robert Shand, chair John Kain CFO Matthew Whyte leave the company.
It appointed Andrew Day as its executive chair on 26 November 2018, and Cheryl Edwards, John McDonald and Robert Kaye as independent, non-executive directors to the board on 10 December 2018.
Walker replaces Naomi Rule who has acted in the CFO role since Whyte resigned in October after six years.