AUSTRALIAN wealth and asset manager Real Asset Management (RAM) has appointed financial services industry veteran Peter Folkes as its new head of distribution.
In the role, Folkes will oversee distribution strategies across all channels and markets, as well as manage key distribution partnerships.
Folkes has almost 25 years of industry experience, including senior positions at Goldman Sachs, BT Investment Solutions, and PwC.
“His extensive knowledge and track record in distribution will be invaluable to RAM as we continue to grow our business and expand our client base. I am very much looking forward to Peter being a key member of our leadership team,” said RAM Australia CEO Scott Kelly said.
RAM’s total assets under management has increased by more than 34% year-on-year to $4 billion.
RAM’s Real Estate division manages a diverse portfolio of properties across Australia, including 43 properties through the ASX-listed RAM Essential Services Property Fund and an unlisted portfolio that includes the RAM Diversified Property Fund and several separately managed accounts. In November, it paid $141.1 million on a beefy 7.03% yield for the 333 Ann Street office tower in Brisbane, where it is eyeing off rental growth opportunities.
“I am excited to be joining RAM at this time and working with the team to continue its growth and success. I look forward to growing RAM’s distribution channels and delivering exceptional value to investors,” Folkes said.