Cooper Investors’ head of distribution Rebecca Morgan departs to join Franklin Templeton

Cooper Investors’ head of intermediary distribution has resigned to join global asset manager Franklin Templeton, amid elevated levels of staff and board turnover at the firm.

Peter Cooper’s Cooper Investors has lost another executive with head of intermediary distribution Rebecca Morgan leaving after a year at the firm. Picture: Valeriu Campan

Cooper Investors’ head of intermediary distribution Rebecca Morgan has resigned to join global asset manager Franklin Templeton, amid elevated levels of staff and board turnover at the funds management firm.

Ms Morgan – who joined Cooper Investors a year ago from Ausbil Investment Management – is heading to Franklin Templeton as a sales director, according to LinkedIn.

She was at Ausbil as a key account manager for almost four years prior to joining Cooper Investors, and before that had a three-year stint as a PM Capital sales director.

A spokeswoman for Cooper Investors said: “We wish Rebecca all the best in her future endeavours.”

Ms Morgan’s exit from Cooper Investors comes as the firm has confronted a string of staff departures in recent months.

The Australian revealed that Cooper Investors’ managing director Rhys Cahill had left the funds manager after serving just 18 months in the role. Cooper Investors’ research analyst Sacha Krien decamped to rejoin E&P Financial.

Mr Cahill’s predecessor and former JPMorgan asset management banker Ron Dewhurst also had a relatively short stint as Cooper Investors’ executive chair and chief executive.

Separately, ratings house Zenith last week downgraded two Cooper Investors’ global share funds, citing the second restructure of the firm’s portfolio management personnel over the past three years.

The changes saw Zenith downgrade the funds to an “approved” rating, after a period of review. Prior to the review the two funds were “recommended”.

The downgrades relate to the Cooper Investors Global Equities Fund (Hedged) and the Cooper Investors Global Equities Fund (Unhedged), after Marcus Guzzardi and Geoff Di Felice were appointed the co-portfolio managers of those funds, replacing Christopher Dixon.

Peter Cooper, whose wealth was this year estimated at $631m by The Australian’s The List, founded Cooper Investors in 2001 and the firm manages about $11bn across funds and investment trusts.

Of the changes to the global share funds, Mr Cooper previously said Mr Dixon would shift to run a new strategy within the global equities platform.

“We have secured the backing of a key institutional partner to establish the Cooper Investors Global Stalwarts Strategy … Chris, Marcus and Geoff continue to report to me, the founder and CIO (chief investment officer),” Mr Cooper said.

The Australian funds management sector has navigated a tough period in the past three years as fee pressures have been exacerbated by mergers among industry superannuation funds, which reduces the number of available mandates. Many industry funds are also moving the management of their Australian and global share portfolios in-house, rather than hiring fund managers.

Succession planning issues and a changing of the guard at some fund management firms has also led to issues, given founders of the firms are typically integral to relationships and operations.

The Kerr Neilson and Andrew Clifford-founded Platinum Asset Management has embarked on a turnaround strategy following persistent fund outflows, and the retirement of Mr Neilson in 2022. The firm is now in the takeover crosshairs of Regal Partners. Mr Clifford remains at Platinum as joint CIO.

Originally published as Cooper Investors’ head of distribution Rebecca Morgan departs to join Franklin Templeton