Platinum appoints new chief executive

Clifford, who co-founded the business in 1994, is stepping down after five years as chief executive, although he will remain as co-chief investment officer.

The beleagued fund manager has appointed Jeff Peters as the new CEO. Peters has a long history in fund management, spending 10 years as managing director and head of global institutional business at Columbia Threadneedle and eight years at Putnam Investments including as senior managing director and head of international business.

Prior to this, he ran the asset management practice at McKinsey.

“I’ve long respected Platinum through my prior work dealing with Australia," Peters says. "I’m excited by the leadership opportunity presented to me; Platinum has excellent foundations and an admired culture that has been built on the back of a differentiated investment approach and strong client focus. I’m keen to work with the team to see the company through its next growth phase.”