Lazard's Binsted departs for Schroders after 24 years
Aaron Binsted, co-head of Lazard's Australian equities, will join Schroders in November. He managed funds with returns of 10.3% over one year, outperforming the ASX 200. Schroders manages $10.2 billion in Australian equities and sees strong client demand. Binsted will join Schroders' Australian Equities Portfolio Construction Committee.
How this was made
The 30-second read
Why it matters
The hire enhances Schroders' team depth while Lazard must replace a senior portfolio manager.
Market read
Executive change with modest impact on the two firms' Australian equity strategies.
What to watch
Potential internal succession plans at Lazard and the performance track record of Binsted at Schroders.
Background
Executive transition between two major asset managers in the Australian equities space.
Ticker impact
Lazard loses co-head of Australian equities as Aaron Binsted departs for Schroders.
Modest downside pressure on LAZ as the market assesses the leadership change.
Executive departures can affect team continuity, but the impact is limited to a niche segment.
Market effects
May influence perception of Australian equity specialist teams across asset managers.
Limited to Australian equity market participants and fund flows.
Low global impact; primarily relevant to investors in Lazard and Schroders.
Counterpoint
The move may have minimal effect; investors could focus on broader market drivers instead.
Key entities
- personAaron Binsted
Co-head of Lazard's Australian equities division, moving to Schroders.
- companyLazard Ltd
Global financial advisory and asset management firm.
- companySchroders plc
International asset manager expanding its Australian equities capability.
