Tower Asset Management restructures
Sunday, October 8th 2000, 9:55PM
Sydney-based Craig Turnbull has taken over as chief investment officer at Tower Asset Management, following a decision earlier this year to combine TAM's Australian and New Zealand operations.Deputy CIO and fixed interest manager Tony Hildyard.
Wellington-based Greg Whitten is heading up the trans-Tasman business development team, plus he will continue to be responsible for direct property investments on both sides of the Tasman.
Wayne Stechman heads up New Zealand equities and Australian equities are the responsibility of Albert Hung.
Global equity management, which is currently out-sourced to seven off-shore managers, will be the responsibility of Turnbull. Manager selection and configuration will be aligned for both countries to the extent practicable, given client mandates.
Strategy, encompassing tactical asset allocation, market allocation and domestic currency management will be under Turnbull. Separate strategists in New Zealand (Sean Newman and Frank Jasper) and Australia (Clive Smith) will provide research input into a trans-Tasman team chaired by Turnbull.
Former investment strategist Tore Hayward is leaving TAM.<
Paul Bevin is TAM's managing director.
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