News

Bennelong Funds Management appoints new Non-Executive Directors

9 November 2010

Bennelong Funds Management (Bennelong) has appointed two new Non-Executive Directors to its Board. Stephen Rix and Elizabeth Flynn will join the Board at the end of November, bringing with them a wealth of industry experience to the rapidly growing boutique.

Stephen has broad experience at director level with a wide range of financial services businesses, including investment banking, private equity and infrastructure operations. He is currently director of several businesses including Chairman of the Travelex Asia Pacific Group and a trustee of one of Australia's leading private funders of cancer research, the Australian Cancer Research Foundation.

Stephen's professional career has encompassed various financial management roles including executive positions with Price Waterhouse, Chief Financial Officer and Director of Merrill Lynch, and Joint Managing Director of Hambros Australia Group. His career has also involved membership on various compliance, audit and risk committees, which will bring valuable insight to Bennelong's compliance function.

Elizabeth brings to Bennelong a combination of 30 years experience in financial services, technical and practical skills across relevant areas of law and corporate governance, and hands-on executive experience. Most recently, Elizabeth was employed as Aviva Australia's Chief Legal Counsel and Group Company Secretary, where she managed the legal, compliance and company secretarial functions.

Her varied and successful career includes 18 years as a commercial lawyer with Minter Ellison, where she specialised in managed funds, securitisation and superannuation, and time serving on IFSA's (now Financial Services Council's) Regulatory Affairs Board Committee.

Jarrod Brown, Bennelong's Chief Executive Officer, said the new appointments brought an interesting breadth, depth and diversity to the Bennelong Board function. "We're obviously very pleased the business has attracted directors of Stephen and Elizabeth's calibre," said Jarrod.

The latest additions to the Board follow the appointment of Bruce Loveday as Chairman in July this year.

The expansion of Bennelong's Board coincides with the group passing $1 billion in funds under management during October. "This is a small but significant milestone for the group which has been achieved in quite a short period of time and in a challenging environment. It definitely establishes a robust foundation for the continued growth of the business and its suite of asset managers," said Jarrod.