July 29, 2021 – According to recruiters specializing in the investment banking space, demand for executive level, “high impact” investing talent has been on the rise, and that demand is expected to soar in coming years. But recruiters say these roles can be generally difficult to develop and ultimately recruit for clients, given their multi-disciplinary and evolving nature. In fact, impact investing roles are new to many organizations, they report. Just recently, Damien Frawley, CEO of Queensland Investment Corp., a Brisbane-based alternatives manager, said he will step down in 2022 after nine years at the helm. Egon Zehnder has been tapped to undertake a global search for QIC’s next CEO. Until his successor is appointed, Mr. Frawley will continue to lead the organization and will work closely with the executive committee and board to facilitate a smooth transition of leadership.
“As QIC reaches our 30th year of operations, the timing of my departure feels about right. We have all achieved a great deal and I leave an executive team well equipped to continue leading the business successfully into the future,” Mr. Frawley said. “Together with our board and investment teams, we have shaped a strategic direction for QIC that I firmly believe sets us on a continued successful path — with our core objective of being client led in all that we do.”
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Queensland Investment Corp. is a long-term specialist manager in alternatives offering infrastructure, real estate, private capital, liquid strategies, and multi-asset investments. It is one of the largest institutional investment managers in Australia, with Australian $85 billion (U.S. $65 billion) in funds under management. QIC has over 800 employees and serves more than 115 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, San Francisco, London, and Copenhagen.
Egon Zehnder’s global wholesale and investment banking practice works closely with international and regional banks and advisory firms to address executive hiring needs and support strategic assessment and development of individual leaders and teams. It has more than 45 consultants worldwide who are serving clients in this sector, advising boards, CEOs, and executives on industry-specific leadership strategies, and are career advisors to many top professionals in the industry.
Top Global Search
Egon Zehnder retained its status as the No. 3 ranked global search firm according to Hunt Scanlon Media this past spring. Since 1964, the firm has been at the forefront of defining top leadership in the face of changing economic conditions as well as major transitions in the executive search field. “The robust growth posted by our leadership assessment, family business advisory, private equity and board practices last year gave us renewed confidence about the firm’s prospects in 2021 and beyond,” said Edilson Camara, CEO of Egon Zehnder.
With more than 500 consultants in 68 offices and 40 countries around the globe, Egon Zehnder works with public and private corporations, family-owned enterprises and non-profit and government agencies to provide board advisory services, CEO and leadership succession planning, executive search and assessment, and leadership development solutions.
Recently Called In
American Equity Investment Life Holding Co. recently retained Egon Zehnder to lead its search for a new chief financial officer. American Equity Investment Life, through its wholly-owned subsidiaries, is a leading issuer of fixed index annuities through independent agents, banks and broker-dealers. The company is traded on the New York Stock Exchange and is headquartered in West Des Moines, IA.
While the search is being conducted CEO Anant Bhalla is taking on additional responsibilities as interim CFO. Ted Johnson will no longer serve as CFO effective immediately and will work on an orderly transition until later in 2021, when he will exit the company. “We thank Ted for his service and wish him well in his next opportunities,” said Mr. Bhalla. “We are pleased he will remain with the company through the coming weeks to work on transition matters.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media