Botherway departs ANZ Wealth

Simon Botherway has resigned from ANZ Wealth after one-and-a-half years in the job, during which he presided over significant personnel changes.

Thursday, September 6th 2012, 11:16AM

by Niko Kloeten

Botherway resigned his role as general manager investment management today, effective from the end of September.

He joined ANZ in April last year after helping set up the Financial Markets Authority; he previously founded Brook Asset Management, which was sold to Macquarie in 2008.

His time at the bank was marked by a major clean-out of the investment team in November last year that saw several high-profile managers lose their jobs as part of a restructuring process aimed at eliminating duplication between OnePath and ANZ Wealth.

Managing director ANZ Wealth, John Body said: "Simon joined us in April last year with some clear objectives, I asked him to bring our OnePath and ANZ investment management teams together and deliver a consistent approach for the thousands of investors and clients who have placed their savings with us.

"Simon has now completed this work successfully and helped us maintain our position as a leader in the wealth management industry. Our investment management team has continued to grow from strength to strength, winning both the Morningstar 2012 New Zealand Fund Manager of the Year Award and KiwiSaver Category Award.

"We wish Simon well in his next endeavours."

An ANZ spokesman said Botherway wouldn't be available for comment until he finished up at the end of September.

However, his departure signals an end to the current round of restructuring at the fund manager.

In an email to advisers, ANZ general manager adviser distribution Jeremy Nicoll said there are "no current plans to change the functions or day-to-day responsibilities" of the New Zealand investment management team.

"Simon is leaving the team in the hands of very capable leaders in terms of Graham Ansell, Mark Brown, and Stuart Millar, who all have very long experience with us," he said.

The business is currently "reviewing options" for Botherway's role, and in the meantime the investment management team will be led by the head of fixed interest Ansell and will continue to report to Body, Nicoll said.

"This is an exciting time for our business as we are now part of a Global Wealth & Private Banking division, with a Global CIO, Stewart Brentnall," he said.

"The New Zealand investment team will be looking to leverage the scale and expertise of our global business to improve the investment proposition for our customers and clients."

Niko Kloeten can be contacted at niko@goodreturns.co.nz

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