GQG loses top sales exec

GQG Partners has a new head of wholesale following the shock departure of Daniel Bullock who has been with the boutique manager since it opened its doors in Australia.

Ash Naidu will step into the top distribution job.

This is a big promotion for Naidu, who joined GQG as director of business development three years ago from Vanguard Investments, where he oversaw retail distribution to advisers in NSW and ACT.

GQG managing director of Australia and New Zealand Laird Abernethy declined to comment on Bullock's exit.

It is understood that Bullock - who has been with the firm for six years - is currently on gardening leave.

In a LinkedIn post, Bullock congratulated Baidu on his promotion.

"Very well deserved, mate. You will do a great job leading such a high quality team," he said.

Bullock joined GQG Partners from Magellan Asset Management, where he served as business development manager within its distribution arm for three years.

Before Magellan, he worked at Colonial First State as an investment specialist and analyst.

GQG Partners was founded by former Vontobel Asset Management chief investment officer and co-chief executive Rajiv Jain in 2016 as an independent boutique equities manager.

Abernethy left his role as CFS's head of retail investment sales back in 2019 to lead GQG's Australia and New Zealand business.

Bullock's exit comes as GQG Partners recorded US$1.7 billion net flows in January, bringing its total funds under management to US$160.4 billion.

The Florida-based active manager recorded US$20.2 billion net flows throughout last year, nearly doubling its net flows of US$10.2 billion in 2023.