AUSTRALIA - Thomas Murray, the specialist custodial rating, advisory and monitoring consultancy, has hired Karen Bignell as business manager for its first Australian office.
Bignell will be responsible for developing the firm’s institutional practice and client base in Australia and New Zealand.
"Karen’s appointment is a key step in the development of our custodian evaluation, selection and monitoring practice and we are delighted to welcome someone of Karen's calibre to our company,” said Ross Whitehill, COO.
Bignell previously worked as senior relationship manager for global clients at JPMorgan in London, and spent a total of 15 years with JPMorgan, with primary responsibilities over several of the firm’s international investment manager clients.
Thomas Murray is currently advising the Future Fund in its custodian selection process. Landing the Future Fund as a client was the “momentum”, behind seeking to open an Australian office, Whitehill said.
The Future Fund, which will become Australia's largest institutional investor, was set up by the ruling Liberal government in May last year to combat the the A$101bn deficit in civil servant superannuation.
Thomas Murray will seek clients primarily in the superannuation fund space, said Whitehall, as funds were seeking greater assistance in the “evaluation, selection and monitoring of custodian banks”, due to increased regulatory guidelines.
Thomas Murray has previously consulted with the NZ$12.2bn New Zealand Superannuation Fund.
In April, Global Pensions reported Thomas Murray’s plans to open its Australian office, which is based in Melbourne. Thomas Murray also operates offices in London and Toronto.
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