Blue Sky names Interim Managing Director

Brisbane-based fund manager, Blue Sky Alternative Investments, has announced the appointment of Kim Morison as interim managing director, effective immediately.

Morison replaces former MD Rob Shand, who resigned from the role following controversy surrounding a recent report published by US-based hedge fund, Glaucus Research.

Morison joined Blue Sky in 2010 and is both managing director of subsidiary firm Blue Sky Water Partners and head of Blue Sky's real assets business. Previously, he held senior roles with CSR Sugar, Macquarie Bank, Colly Cotton, and the Twynam Agricultural Group.

A statement from the firm said, "as Blue Sky rebuilds market confidence, it was in the best interests of the company, its shareholders and its investors for Kim to take over as interim Managing Director."

Blue Sky has also announced the board departures of Nicholas Dignam, the firm's head of growth capital, and Elaine Stead, head of Blue Sky's venture capital divisions. Both will retain their executive responsibilities.

Blue Sky's chair, John Kain, said: "Blue Sky's business fundamentals are strong. We have learnt, and we are continuing to learn, from our recent experiences and we are building for the future. We have a great platform, great people and continuing support amongst our funds' investors and institutional clients."

The process has commenced to appoint a permanent managing director and independent directors to the board.