Platinum Asset Management recently announced significant changes in its investment team leadership. Co-chief investment officers Andrew Clifford and Clay Smolinski are set to step down from their current roles. Clifford, a veteran with 31 years at Platinum and a former CEO, will relinquish his CIO positions and global portfolio management duties. Instead, he will transition into an investment mentorship role within the investment oversight group.

On the other hand, Smolinski will be taking a six-month leave of absence after nearly two decades with the company. During this time, he will also step back from managing the flagship Platinum International Fund. Following this period, Smolinski will decide on a potential alternative role within the investment team after consulting with Platinum management.

The absence of both CIOs leaves Platinum without designated replacements for the duo. To fill this void, the firm has appointed Ted Alexander, a seasoned long-short global equity manager, to oversee the Platinum International Fund and other global strategies. Alexander brings a wealth of experience, having served as a portfolio manager at Magellan and as the chief investment officer at BML Funds.

Additionally, Jim Simpson, who became a non-executive director on the board in November 2024, will now assume an executive position as the chair of the investment oversight group, working closely with Clifford. Simpson, a founding member of Platinum in 1994, previously managed the company’s Japan strategies until 2007.

In response to these changes, Clifford expressed confidence in the team’s ability to deliver strong returns for clients by combining the expertise of the existing team with the fresh perspectives of new talent. CEO Jeff Peters commended Ted Alexander’s appointment, citing his exceptional performance track record and alignment with Platinum’s core values and investment philosophy.

Peters highlighted the strategic focus on enhancing the investment process to revitalize the performance of the Platinum International Fund. He expressed gratitude to Clifford and Smolinski for their valuable contributions and emphasized Clifford’s continued involvement during the transition period.

These leadership adjustments mark a significant shift for Platinum Asset Management, signaling a new chapter in its investment strategy. The company aims to leverage the collective experience of its team members while incorporating innovative approaches to meet the evolving needs of its clients.