The European asset management platform of Mediolanum Banking Group, Mediolanum International Funds (MIFL), has announced the appointment of Patrick McKenna as a new Equity Portfolio Manager within its Multi Manager team. Based in Dublin, he will report to Eoin Donegan, who is heading the Equity Multi Manager portfolio management team.
Mr. McKenna will primarily focus on portfolio management across the firm’s multi manager strategies, while also working closely with the manager selection team. He will be involved across all areas of the investment process, from asset allocation, to fund selection and portfolio construction.
Mr McKenna’s most recent role was at the leading UK wealth manager, Saunderson House, where he led the company’s manager selection and macroeconomic research on European, Asian and Emerging Market equities. This included constructing best ideas model portfolios for each region, working closely with the head of investment.
Mr McKenna started his career in banking with Goldman Sachs before moving to Aon where he worked in the delegated investment team for over five years. Here he managed institutional portfolios for a broad range of clients from small defined benefit pension schemes to large government backed investment programs. He also focused on constructing and managing high conviction multi manager equity funds, while at Aon.
“Patrick is the most recent in a line of appointments we have made in our investment division. He is a valuable addition to our multi manager team, with the investment, research, selection and portfolio construction skills and track record to play a role in the wider investment team and capability. We believe that our success in hiring such great professionals is proof positive of our growth ambitions, and is evidence that we can attract the best talent available in the marketplace”.Christophe Jaubert, Chief Investment Officer at MIFL
Mediolanum adds more firepower to the burgeoning investment team
The appointment of Mr McKenna is the latest in a series of hires MIFL has made to its business over the last 12 months. Moreover, since March of this year MIFL has bucked the general industry trend with a string of appointments across the business – and follows last month’s appointment of David Whitehead, also as Equity Portfolio Manager within its Multi Manager team, and the hiring of Terry Ewing in April from the Abu Dhabi Investment Authority (ADIA) as MIFL’s new Head of Equities.
While the group will continue to maintain long term relationships with best-in-class equity managers through its multi-management approach, the firm now, following its philosophy in pursuing the value of diversification, wants to complement this by building up its internal competencies.
MIFL plans to continue to materially increase its employment base also this year, in line with the past 20 years (circa 22% CAGR), and to accommodate this future growth, the Irish operation has established new (circa) 20,000sq.ft. European Headquarters in Dublin’s International Financial Services Centre.