As a result, a head of debt markets job has been created and the position of executive bond manager, held by Ross Gustafson, has become redundant. Gustafson, who has been with the company for 12 years, is weighing up his next move. Australian bond manager Roger Bridges has been promoted to head of bonds.
The fixed interest market had changed in the past decade, driven by shifting institutional demand and a long bull run in interest rates, executive director Barry Sheehan said. "We expect this trend to continue and the demand for plain vanilla products to continue to decrease", Sheehan, who recently stepped down from the position of chief executive after sustaining a serious injury, said.
"So while Tyndall has a strong position in fixed interest, we must build on it to maintain our relevance to Australian investors and take advantage of the opportunities presented in related areas, such as those emerging around structured products and the growing interest in alpha transport."
