Written on the 20 February 2017 by Business News Australia

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: Michael Gordon and Philip Hennessy.

The two appointments go some way to address criticism about the previous lack of independent directors on Blue Sky's board. Previously, chairman, John Kain, was the single independent member of the seven-person board.

Gordon (pictured right) brings 30 years' experience in financial services and funds management to Blue Sky. Previously, he was group executive for Perpetual Investments where he was responsible for more than $30 billion of funds under management.

Gordon's resume also includes time at global chief investment officer at BNP Paribas Investment Partners in London, global CIO at Fidelity International and joint managing director and CIO for Schroders in Australia.

Hennessy (pictured below left) was the Queensland chairman of KPMG from 2000 until he retired in 2013, and he also served as the firm's Queensland Audit Committee Institute chair. Hennessy is currently an independent director and advisor to a range of organisations, including at the Blue Sky Alternatives Access Fund (ASX:BAF) since it listed in 2014 he will retire from this role on 31 May 2017.

Blue Sky chairman John Kain says Gordon and Hennessy bring skills that will enhance Blue Sky's growth as it scales.

"Michael's deep knowledge of institutional capital and his hands-on experience running large institutional funds management businesses in Australia, Europe and Asia will be invaluable in helping drive that growth," says Kain.

"Phil clearly has a very strong accounting, audit and risk management pedigree. This is a critical element of our business and one where we have built a strong track record over the past decade," says Kain.

"Through his role as independent director of the Blue Sky Alternatives Access Fund and chair of its audit and risk committee, he also brings a deep knowledge of our business.

"Phil's experience will further strengthen Blue Sky's audit and risk management capability as our business expands in Australia and offshore."
Blue Sky is trading steady on the ASX in early trading this morning, up 0.13 per cent at $7.49 per share at 10.30am AEDT.

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Author: Business News Australia





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