Pacific Current names acting chief executive

Pacific Current named a former Challenger executive to lead the multi-boutique in an interim capacity.

Michael Clarke, who spent more than 10 years at Challenger, takes the top job at Pacific Current following the resignation of managing director, chief executive, and chief investment officer Paul Greenwood.

Greenwood jumped to GQG Partners when it took over Pacific Current's three fund managers - Avante Capital Partners, Proterra Investment Partners, and Cordillera Investment Partners.

He is now co-managing director of GQG's Private Capital Solutions (PCS) business, which he leads with managing director Mike Daley.

Pacific Current's externalisation of the three fund managers came off the back of GQG's failed attempt to fully takeover the multi-boutique thanks to major shareholder River Capital blocking the deal.

Clarke is currently a non-executive director at Perpetual and was the acting chief executive of Challenger's funds management business.

Prior to that he spent more than eight years as its general manager of institutional and offshore distribution.

Clarke also held senior roles at Russell Investments as managing director of institutional and was the director of international and business strategy at AMP Capital.

Joanne Dawson joins Clarke as a non-executive director of Pacific Current as of July 1.

Her work experience includes leading the financial planning unit of NAB and serving as managing director of Executive Wealth Strategies. Among her numerous board roles, Dawson is a non-executive director at Vision Super.