Ben Seeder, The Australian Financial Review, 19 December 2001
The funds management and superannuation veteran Mr Les Fallick has quit as director of the private equity group Gresham to set up his own industry consultancy firm.
His announcement of the split last week, believed to be amicable, came after three years with Gresham.
No replacement has yet been named.
After a stint as an economics lecturer at Manchester University, Mr Fallick held several economic advisory roles with the Hawke and Keating governments in the 1980s, and with the trade union movement. In 1993 he moved to the private sector as director of Legal & General Asset Management, and then in 1995 to AMP Asset Management, as it was then known.
There, he became responsible for balancing the investment giant's tricky relationship with the newly emerged industry funds.
He was later appointed to head Development Australia Fund, the private equity joint venture with five large industry funds.
Mr Fallick said his new venture, Principal Advisory Services, would advise fund management groups on tendering for mandates in the fast-growing $40 billion industry funds arena.
He would give advice on the structure and operational management of funds. "I'm going to work with super funds and some gatekeepers in developing high-quality private equity in Australia."