Hedge fund scraps local sales role

BlueBay Asset Management has scrapped its institutional head of sales role in Australia and New Zealand, opting to distribute through a local firm.

Ciaran McAssy confirmed his departure from the fixed-income hedge fund after almost 13 years as head of sales for Asia, Australia and New Zealand.

"After 12 1/2 years with BlueBay working in Hong Kong and Australia, the RBC BlueBay team have chosen to move forward with a different service offering for the Australia/New Zealand market. There is still a strong focus from the RBC BlueBay team in the London office," he said.

Kings Gate Capital Partners managing partner Peter Mitchell has begun representing BlueBay in the wholesale market and will likely take over the institutional clients.

McAssy has over 25 years' experience in funds management, accounting and financial planning.

In addition to serving as head of sales for Asia, Australia and New Zealand, he chaired BlueBay Hong Kong.

McAssy joined BlueBay from Australian Unity, where he was head of institutional sales and previously worked at Bennelong Funds Management. He also did stints in ING and ANZ.

"Whilst my golf handicap has not improved, the time with my family has been invaluable. As they say in the classics, all good things must come to an end and I am keen to explore new opportunities and challenges," he posted on LinkedIn.

As for Mitchell, he has also had 25 years' experience in the North American and Australasian asset management industry.

He previously led the national distribution team for Zurich Life and Investments, focusing on the retail, advised and superannuation channels.

Before that, he was head of distribution for State Street Global Advisors for five years and ran the institutional business at Pendal Asset Management and Columbia Threadneedle.