Kerr Neilson, one of Australia's top fund managers, has been working hard to recover the $585 million loss he suffered in his personal wealth. Despite being 74 years old, Neilson remains driven and confident in his ability to recoup the loss through active market participation.
Add articles to your saved list and come back to them any time.At 74, Kerr Neilson , one of the godfathers of Australia ’s funds management industry, should be enjoying a quieter life like many septuagenarians. One that focuses on investing his private share portfolio, on philanthropy and on his passion for travel.
Neilson steered Platinum through years of good and bad performance but in 2018, he decided to step down as chief executive and was succeeded by Clifford. Neilson said he wasn’t interested in an outcome for Platinum that would have been “just to smash companies together and take out costs”. “My position from four years ago was to use my 21 per cent to get a new CEO appointed,” he said.“I was more interested in understanding who’s going to lead this change because to smash things together without changing the structure within the investment team would do no good.
Last December, Clifford was replaced as CEO by Jeff Peters. Peters formerly worked for Columbia Threadneedle Investments and Putnam Investments. He had also run the asset management practice at McKinsey.Neilson participated in meeting the CEO candidates that were to replace Clifford but he wasn’t involved in the final decision that settled on Peters. He’s since had one meeting with Peters.
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