Financial services group Intech has promoted portfolio manager Michael Coop to the new job of head of alternative investments.
The position will involve setting and overseeing the alternative investment policy for Intech and parent company Skandia, which bought Intech 12 months ago.
The alternative investments team includes Ben Tai, Nicole Liu and Adrian Kurniadjaja, who is based in the United States.
Coop said there is a gap in the market for alternative solutions that are designed to meet the needs of Australian investors.
"My primary focus is to fill that gap by working with our clients to offer innovative alternative strategies that compliment their existing investments," he said.
He is also the portfolio manager for alternative investment funds the Intech Global Trading Strategies Trust II and the Skandia Absolute Return Fund.
"Michael's leadership of Intech's alternative investment practice is about ensuring we remain at the forefront of this investment class and that our clients have access to the appropriate alternative strategy for their risk profile," Intech chief investment officer Ron Liling said.
Coop was hired by Intech in 2003 to expand the coverage of alternative investments for advisory and implemented consulting clients.
He previously spent eight years as an investment strategist and portfolio manager and worked at BT Funds Management and United Kingdom-based insurer Sun Life Investment Management.
Last month, Skandia created two new roles for its investment consulting business as part of an organisational restructure.
Intech founder Ron Liling returning to the group as chief investment officer (CIO). Intech's previous CIO, Hugh Dougherty, remained with Skandia's global parent, Old Mutual Group and Fraser Murray was promoted to the job of head of equities and property.
The two new roles included general manager of investments, Michael Monaghan, and institutional development executive, Chris Galloway.
