Kerr Neilson to step down as Platinum CEO

Platinum Asset Management has announced that chief executive officer and co-founder, Kerr Neilson, will be passing on his leadership responsibilities, effective 1 July 2018.

Andrew Clifford, who co-founded Platinum in 1994 with Neilson as deputy chief investment officer (CIO), will take over as CEO. Clifford is currently the firm's CIO, a role he was appointed to in 2013.

Prior to founding Platinum, Neilson and Clifford worked together for several years at Bankers Trust.

Neilson's portfolio management responsibilities for Platinum's global equity funds and mandates will be allocated between Clifford and portfolio manager, Clay Smolinski.

Neilson will continue as a full time executive director of Platinum Asset Management and its subsidiaries, and as a member of Platinum's investment team. He will also provide additional support to Platinum's client diversification initiatives in Europe and the US.

Commenting on his changing role, Neilson said: "I look forward to continue to tussle around with investment ideas and to spread more broadly the word about our global investment capability."