David Buckland has resignaed as chief executive officer and portfolio manager at Hunter Hall after 11 years with the firm. Buckland finishes on June 1 when Michael Walsh will take over as interim chief executive until a permanent replacement is found.
Hunter Hall has also announced the appointment of two portfolio managers, Jonathan Rabinovitz (who is returning to the company) and Simon Bridger. They will commence on June 4 and July 1, respectively.
Buckland's resignation is the second senior departure from the team in six months, after portfolio manager and deputy chief investment officer (CIO) Jack Lowenstein's resignation in November 2011. Ratings firm Standard and Poors' believes that the latest departure represents further significant organisational disruption at Hunter Hall.
S&P Fund Services has consequentally placed six Hunter Hall equities funds on hold/
"We consider it prudent to place the funds 'On Hold' to enable us to fully assess the impact of these changes on Hunter Hall's organisation and culture. We are currently in the process of conducting our global equities sector review and expect to publish our findings, including those on the Hunter Hall funds, in June," S&P analyst Tom Mills says.
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