Absolute Capital Names New Director

SYDNEY, Australia (HedgeWorld.com)--Absolute Capital Group Ltd. appointed David Bleakley to a non-executive position on the firm's board of directors.

Mr. Bleakley formerly was the founding chairman and managing director of Bleakleys Ltd., an Australian financial planning company. He currently serves as executive chairman of RetireInvest Pty Ltd., an Australian financial planning and investment advisory firm, according to a news release from Absolute Capital.

ABN AMRO, which earlier this year acquired a 50% stake in Absolute Capital, appointed Mr. Bleakley to the board. Colin McKeith, head of financial markets in Australia and New Zealand for ABN AMRO, called Mr. Bleakley's appointment "a growth milestone," and said it was further evidence of the strong working relationship that has developed between his firm and Absolute Capital.

Deon Joubert, Absolute Capital's managing director, echoed that sentiment, saying "David's strong background in the financial services industry will complement the emerging working relationship between ABN AMRO and the Absolute Group."

Mr. Bleakley becomes the sixth director on the Absolute Capital board. The others are Mr. McKeith; Mr. Joubert; Gary Simon, director, New Business Financial Markets; Michael Devlin, chairman of Absolute Capital Management Holdings Ltd; and Jon Eriksen, a non-executive director.

Absolute Capital is an alternatives manager whose assets include more than A$250 million (US$179 million) spread over five funds of funds.

CClair@HedgeWorld.com

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.

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