Guy Strapp News Today

Platinum Asset Management appointed a new chief executive to replace Andrew Clifford and unveiled a new-look board in the hope of stemming outflows and revitalising the business.

Platinum Asset Management chief executive Andrew Clifford has announced he will vacate the top job but remain as co-chief investment officer.

Platinum Asset Management CEO and chief investment officer Andrew Clifford has wisely dodged a public spat with co-founder and critic Kerr Neilson. But has he done enough to placate his former mentor?

For Perpetual’s dealmaking chief executive Rob Adams to have any chance of winning over Pendal, one man had to be courted more than anyone else.

Regal disclosed a 5.5 per cent stake in Platinum after the closing bell on Tuesday, fuelling speculation about its intentions regarding the fund manager.

While the asset manager realised an 8.6% loss in funds under management for the year to June 30 and will soon farewell Kerr Neilson, the firms outlook is positive.