Fund manager AllianceBernstein Australia has begun rebuilding its Alliance growth equities team after it lost four staff to rival Challenger Financial Services Group.
The firm hired Paul O'Sullivan as an Australian financials analyst.
O'Sullivan was previously at Queensland Investment Corporation as a senior equities analyst and before that, he was a member of UBS Securities' Australian insurance equities research team.
His responsibility will be to provide research on Australian financial companies for Alliance's local and global growth equity portfolios.
AllianceBernstein Australia chief executive Michael Bargholz also said that David Robinson, who leads Alliance's research into global resource companies for the global research growth portfolios, will now contribute his research to the Australian growth equity portfolios.
Additionally, the firm has promoted director of research Ed Rayner to portfolio manager, he said.
Four members of the Alliance growth equities team - Johan Carlberg, Bruce Smith, Andrew Martin and Stephane Andre - left AllianceBernstein recently to start new boutique Alphinity Investment Management with the backing of Challenger.
Carlberg, formerly AllianceBernstein's Australian equities director, leads the boutique.
