Thomas unexpectedly quits ING
ING New Zealand chief investment officer Rebecca Thomas has resigned after about two years in that position.
Thursday, July 27th 2006, 6:51AM
by Jenny Ruth
Thomas "decided she wants to do her own thing" and is likely to set up in business for herself.
Rumours have abounded in the investment community ranging from Thomas’ resignation though to speculation that the entire investment team had resigned.
"We can categorically deny all the rumours," Giannoulis says. As chief investment officer, Thomas doesn’t manage money on a day to day basis and those operations will continue as usual and the company will be starting a recruitment process to replace her, he says.
"The team is strong and stable," he says.
In a press release ING put out after Good Returns asked about the resignation, chief executive Marc Lieberman, said: "We were one of New Zealand’s leading investment managers long before Rebecca’s arrival, and will continue to be well after she’s gone."
Thomas took over the role in late 2004 after ING’s CIO of seven years, David McClatchy, was appointed to the position of CIOA and deputy chief executive of ING Investment Management in Sydney.
Prior to joining ING Thomas managed a broad range of UK, European and US assets for a variety of investment clients.
In the late 1990s, she held the dual role of managing director of Asset Management and CIO for London asset manager Johnson Fry.
After Johnson Fry was acquired by the US-based investment house, Legg Mason, Thomas continued in the ceo role for a further three years.
During 2002 and 2003, she worked in a consulting capacity and as a non-executive director of a number of UK companies.
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