Terry Winder named new CEO of Hastings Funds Management

Westpac has named Terry Winder as the new chief executive of its infrastructure manager, Hastings Funds Management.

Westpac has named Terry Winder as the new chief executive of its infrastructure manager, Hastings Funds Management.

Mr Winder sits on the Hastings board and is the chief financial officer of Westpac Institutional Bank. Hastings chief Andrew Day will step down from the role at the end of this month.

Sources earlier suggested that Andrew Faber, the head of transactions for Hastings, was in line to replace Mr Day. Others said Hastings’ Asian head Grant Dooley was a contender.

The appointment of Mr ­Winder comes after the shareholders of Hastings’ TIF fund ­recently voted to remove the Westpac-controlled subsidiary as its manager.

Hastings remains subject to a partial sale to real estate manager Charter Hall.

Charter Hall was to buy all of Hastings but the deal stalled on the back of shareholder unrest.

TIF will potentially break away from Hastings in about a year while negotiations remain afoot for Charter Hall to take control of the Utilities Trust of Australia fund.

The Hastings-controlled UTA has holdings in some of Australia’s most prized infrastructure ­assets.