Managing Director resigns from Blue Sky

Brisbane-based fund manager, Blue Sky Alternative Investments, has announced the resignation of its managing director, Rob Shand, effective immediately.

Shand's departure follows controversy surrounding a recent report published by US-based hedge fund, Glaucus Research.

Shand joined Blue Sky in 2010, from Bain & Co, and in 2013 moved into the role of chief operating officer. In September 2016, he was appointed as the firm's managing director following the departure of Blue Sky's founder, Mark Sowerby.

Kim Morison, managing director of Blue Sky Water Partners- a subsidiary of Blue Sky - and head of Blue Sky's real assets business, has stepped in as interim managing director.

Commenting on Shand's departure, Blue Sky's chair, John Kain, said: "During his tenure, Robert has played an important role in building the scale of Blue Sky and helping to drive its strong track record of investment performance. Robert has worked tirelessly for Blue Sky and we wish him every success in the future."

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.

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