Major clean out at OnePath
ANZ Wealth has announced a major shake up of its investment management team which sees many well-known and long serving managers losing their jobs.
Friday, November 18th 2011, 11:20AM 19 Comments
ANZ Wealth general manager Simon Botherway has announced the new structure and senior appointments to its Investment Management team.
Graham Ansell will continue in the role of Head of Fixed Interest, but now for the combined OnePath and ANZ Wealth teams.
Mark Brown has been appointed Head of Equities. Brown has been a senior Investment Manager in the OnePath equities team for many years and has established a strong performance track record over that period.
The new structure means the following roles have been disestablished: Chief Investment Officer - OnePath, Senior Fixed Interest Manager - OnePath, and Head of Investments - ANZ.
The Structured Credit team is now disbanded as ANZ Wealth has exited from managing these particular investment products.
Losing their jobs are:
Philip Houghton-Brown. He has been a member of the senior leadership team for the majority of his 15 years here, including in his role of Chief Investment Officer.
"I'd like to acknowledge Phil's enormous contribution to the success of OnePath during that period which is reflected in strong investment returns for our clients and OnePath winning numerous industry awards," Botherway says in an email. "Additionally Phil's leadership during the GFC was invaluable as was his contribution to the success of all our KiwiSaver funds."
Amanda Smith. Smith has served as Head of Equities at OnePath for over 14 years. "Amanda has decided this is the right time for her to pursue new opportunities," Botherway says. "She has led the high-performing equity team with authority and purpose whilst achieving excellent investment results for our clients."
Senior Fixed Interest Manager, Andrew Michl and Head of Structured Credit, David Jansen also lost their jobs. Botherway mentions Jansen's "dedication to the task of rationalising and liquidating discontinued products following the GFC and Andrew's management of the high-yield bond funds."
"While there are some changes to the team, ANZ Wealth remains committed to delivering the highest quality investment proposition for our clients," Botherway says.
"The changes are designed to integrate and simplify the structure, remove role duplication and align processes and functions across all the investment activities we deliver.
"There is now a centralised Wealth team for both equities and fixed interest resulting in a stronger combined resource, incorporating the experience of the OnePath and ANZ investment teams."
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