Hastings Funds Management (Hastings), the Melbourne-based infrastructure manager, has undertaken a wide-ranging reshuffle of its senior staff in a bid to better harness global opportunities. The changes comprise eight internal appointments and one recruitment across three teams, according to people with knowledge of the matter.
It is understood that Andrew Day, chief executive of the firm, will oversee the equity new investments team, formerly known as global investments, alongside four regional investment heads.
Sources said Andrew Faber will be head of equity new investments in Australia and promoted as an executive director, while Oliver Schubert, also joining the executive committee, will be in charge of the Europe region. Rob Collins and Stephen Mead will be heads of equity new investments in North America and Asia respectively.
On the other hand, the global asset management team will be renamed as equity asset management and led by Steve Rankine, the current global head of infrastructure debt and soon-to-be global head of equity asset management, according to sources.
Rankine will chair the asset review committee, join the equity investment committee and retain his existing debt responsibilities.
Sources added that Andrew Fellowes will be promoted from his current role as investment director to head equity asset management in Australia, working alongside Rankine and current European head Valeria Rosati.
Hastings declined to comment on the appointments.
Infrastructure Investor can also confirm that Peter Taylor, the current head of global investments and global asset management teams, is leaving the firm to pursue another career opportunity. It has been reported that Taylor will join a global infrastructure manager.
Changes have also happened at Utilities Trust of Australia (UTA), which manages a portfolio of core infrastructure assets including the TransGrid electricity transmission network and is the group's largest fund. Colin Atkin, the portfolio manager of UTA, has been promoted to become Hastings' global functional lead for portfolio management, business development and marketing, sources said.
Brett Mitsch will join the UTA team as lead portfolio manager in March from Flagstaff Partners, where he worked as managing director. He will report to Atkin.
Matthew Lorback, airport sector lead within the equity asset management team, will take over James Fraser-Smith’s position as investment director in the UTA portfolio management team, according to sources. The appointment comes after Hastings last month announced Fraser-Smith's resignation after a 10-year tenure at the firm.