Neilson will continue as chief executive and will retain portfolio management responsibility for the global mandates run by Platinum.
“Andrew’s appointment reflects the growth and deepening of Platinum’s investment team and a sharpening in the lines of communication,” Neilson said.
Clifford has deputised in the role of CIO to Neilson over the past 19 years and is current portfolio manager of the Platinum Asia Fund, managing a portion of the flagship Platinum International Fund.
The changes reflect a long-term investment and communication strategy that the firm has been slowly implementing.
“The management structure of the investment team has been progressively reordered and refined over the last two years. The outcome has provided for clearer reporting lines between the CIO, the portfolio managers and the investment analysts," Mr Neilson stated.
Associated with these changes, Clifford will also join the firm’s board as a director, while Jacob Mitchell will take up Clifford’s responsibilities as deputy chief investment officer.
As well as the new CIO, Elizabeth Norman has been appointed to the board as director of investor services and communications.
“The board recognises that we will now have four members of the executive team on the board. This is now appropriate for Platinum because it gives the board greater oversight and understanding of all our business initiatives,” chairman of Platinum Michael Cole said.
Platinum currently manages in excess of $17 billion, with around 14 per cent of this from investors in New Zealand, Europe, America and Asia.
