BlueBay Asset Management, the fixed income-focused hedge fund affiliate of RBC Global Asset Management, has scrapped its institutional head of sales role in Australia and New Zealand, transitioning to a third-party distribution model via Kings Gate Capital Partners, according to a report by the Financial Standard.
The move marks the departure of Ciaran McAssy, who had led BlueBay’s institutional sales efforts across Asia, Australia, and New Zealand for nearly 13 years. McAssy also chaired BlueBay’s Hong Kong office during his tenure and has over 25 years of experience in asset management and institutional distribution.
In a public statement, McAssy acknowledged the firm’s strategic pivot: “After 12½ years with BlueBay working in Hong Kong and Australia, the RBC BlueBay team have chosen to move forward with a different service offering for the Australia/New Zealand market. There is still a strong focus from the RBC BlueBay team in the London office.”
Going forward, Peter Mitchell, Managing Partner of Kings Gate Capital Partners, has begun representing BlueBay in the wholesale market and is expected to take over institutional client coverage as well. Mitchell brings deep distribution experience, having previously led efforts at Zurich Life, State Street Global Advisors, Pendal Asset Management, and Columbia Threadneedle.
