Platinum Asset Management, a prominent investment firm, recently announced significant changes in its leadership team. Co-chief investment officers Andrew Clifford and Clay Smolinski are set to transition from their current roles within the company. Andrew Clifford, a seasoned professional with 31 years of experience at Platinum, including a stint as CEO, will be stepping down from his CIO positions and relinquishing his global portfolio management duties. He will pivot towards an investment mentorship role as part of the investment oversight group.

Concurrently, Clay Smolinski, who has dedicated nearly two decades to the firm, will be embarking on a six-month leave of absence. During this period, he will also be relieved of his responsibilities as a portfolio manager for the flagship Platinum International Fund. Post the sabbatical, Smolinski will assess the possibility of returning to an alternative role within the investment team, in consultation with the company’s management.

As a result of these changes, Platinum Asset Management is currently without any CIOs as replacements for the departing officers have not been formally announced. However, the organization has appointed Ted Alexander, a skilled long-short global equity manager, to oversee the Platinum International Fund and other global strategies. Alexander, who previously served as a portfolio manager at Magellan and held the position of chief investment officer at BML Funds, brings a wealth of experience to his new role.

In another strategic move, Jim Simpson, a non-executive director who joined the board in November 2024, will assume an executive position as the chair of the investment oversight group, collaborating closely with Andrew Clifford. Simpson, a founding member of Platinum since 1994, previously managed the firm’s Japan strategies until 2007.

Andrew Clifford expressed confidence in the revamped structure, emphasizing the blend of seasoned expertise and fresh talent within the team. He believes this mix will introduce innovative ideas and approaches to benefit clients with quality returns. Platinum CEO Jeff Peters lauded Ted Alexander as the standout candidate following a rigorous selection process, citing his exceptional performance track record and leadership qualities that align with the company’s values and investment philosophy.

Peters highlighted that Alexander, in conjunction with the Investment Oversight Group, will focus on enhancing the investment process to revitalize the performance of the Platinum International Fund. He extended gratitude to Andrew Clifford and Clay Smolinski for their significant contributions, especially commending Clifford for his continued dedication during this transitional phase.

The leadership changes at Platinum Asset Management signify a strategic shift aimed at infusing new talent while retaining the core values and investment principles that have defined the firm’s offerings to its clientele over the years. The company remains focused on delivering strong investment performance and upholding its commitment to investors amidst these transformative developments.