Platinum Asset Management recently announced a significant shake-up in its investment team, with co-chief investment officers Andrew Clifford and Clay Smolinski stepping down from their roles. Clifford, a seasoned professional with 31 years at Platinum and a former CEO, will transition to an investment mentorship position within the investment oversight group, relinquishing his CIO responsibilities and global portfolio management duties.
On the other hand, Smolinski, who has dedicated close to two decades to the company, will be taking a six-month leave of absence and stepping down from his role as a portfolio manager on the flagship Platinum International Fund. Following this period, he will decide on his future role within the investment team in consultation with Platinum management, leaving the firm without any formal replacements for the CIO positions.
To fill the void left by Clifford and Smolinski, Platinum has appointed Ted Alexander, a long-short global equity manager with a strong track record, to oversee the Platinum International Fund and other global strategies. Alexander’s previous experience includes roles as a portfolio manager at Magellan and chief investment officer at BML Funds. Additionally, Jim Simpson, a non-executive director who joined the board in 2024, will now assume an executive role as chair of the investment oversight group, collaborating with Clifford.
Clifford expressed confidence in the revamped structure, emphasizing the blend of experienced team members and fresh talent that can bring new perspectives and ideas to the table. He believes this collective effort will deliver quality returns for clients. Platinum CEO Jeff Peters commended Ted Alexander as the standout candidate, citing his exceptional performance history and alignment with the company’s values and investment philosophy. Peters highlighted Alexander’s leadership qualities and tasked him, in conjunction with the Investment Oversight Group, to enhance the investment process to revitalize the performance of the Platinum International Fund.
The management expressed gratitude towards Andrew Clifford and Clay Smolinski for their significant contributions to the firm. Peters acknowledged Clifford’s ongoing commitment during the transition phase. The restructuring aims to leverage the expertise of the existing team members while introducing new talent to drive innovation and excellence in investment performance.
Platinum’s decision reflects the evolving landscape of the investment industry, where firms continually adapt their leadership structures to enhance competitiveness and deliver value to clients. The appointment of Ted Alexander and Jim Simpson signifies a strategic move towards blending experience with fresh perspectives, a trend observed in many financial institutions seeking to navigate changing market dynamics.
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