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Himbury to build IFM infrastructure business

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5 minute read

The newly-hired chief of IFM has outlined his plans for the business.

Former Tyndall Investments chief executive Brett Himbury will focus on expanding Industry Funds Management's (IFM) infrastructure capabilities internationally as he takes on the role of chief executive.

"Infrastructure will be the primary focus in first instance in terms of our overseas expansion," Himbury said.

Infrastructure was not a key focus at Tyndall, which mainly invests in fixed interest and Australian equities, and Himbury admitted it was not his area of expertise.

But he said IFM did not appoint him as investment specialist.

 
 

"They don't need a chief investment officer; they need a chief executive officer," he said.

"Someone who brings the team together, gets clear on what we stand for, really drives our executional expertise and makes sure we grow the success of our clients, staff and shareholders."

Although Himbury's appointment will see him "test how strong the brand is internationally", Australia will remain important in IFM's strategy.

"Australia is clearly the lion share of the business and we need to do even more to support those clients and hopefully earn a greater level of their support," Himbury said.

"But at the same time there is clearly an opportunity to grow our footprint in other parts of the world.

"We've been in New York and London just short of three years and we've got reasonable momentum over there. There is an opportunity to grow the investments we have in that region, but also the clients we support in those regions."

He said he was attracted to the position of IFM chief executive because the asset manager was very clear on which asset classes it had expertise in and which ones it did not have expertise in.

"I like businesses that are good at making the no decisions, because then you become really good on the execution on the yes decisions," he said.

Himbury left Tyndall two months ago and has been on gardening leave since then.

He begins his job as chief executive of the Melbourne-headquartered asset manager on 12 April.