Brown takes the bait at Fisher

Monday, March 10th 2008, 11:03AM
Fisher Funds Management has poached former First New Zealand Capital head of research, Murray Brown, to take up a senior analyst role.

The appointment comes barely a week after losing minority partner and chief investment officer, Warren Couillault.

In an announcement to the NZX just before 4pm last Friday, Fisher Funds said Brown, who was head of research at First NZ for the last decade, would work alongside the company chief, Carmel Fisher, in managing the firm's New Zealand portfolios - a role Couillault filled prior to his resignation.

Following Couillault's departure from the boutique manager (which saw him sell down his 27% holding in the firm for an amount reported to be in excess of $5 million), Fisher said in a statement that as "the New Zealand Growth Fund currently closed to new investment, Warren Coulliault's position will not be replaced in the near term".

In last Friday's announcement Carmel Fisher said: "I am delighted that an investment professional of Murray's calibre and experience has agreed to join us."

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