Michael De Cesare, formerly an analyst for the firm, takes the role.
Stuart Williams, head of equities, Nikko AM NZ, said the additional responsibilities were in recognition of De Cesare's “significant contribution to client portfolios over the last couple of years. Within the flat team structure of the Equities Team, all the team members now hold portfolio management responsibilities as well as sectoral research responsibilities."
De Cesare joined Nikko AM in 2012 and has eight years’ experience working in financial markets and corporate finance.
George Carter, managing director of Nikko AM NZ, said: “Michael is thoroughly deserving of this promotion, and it’s great to see the growth of our business and the equity team’s consistent investment process providing the opportunity to develop our people in this way."
Nikko AM NZ actively manages around $5.2 billion of investments. It manages domestic assets through its Auckland-based investment team and employs carefully selected offshore managers to manage global assets.
The Nikko AM NZ equities team manages over $700 million across concentrated funds (James Lindsay, lead portfolio manager), property and NZ-only funds (Michael Sherrock, lead portfolio manager), the SRI Fund (Michael De Cesare, lead portfolio manager) and Core Funds (Stuart Williams, lead portfolio manager).
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