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Former ANZ wealth boss joins Pie

ANZ’s former general manager of wealth products has taken a role with Pie Funds.

Tuesday, July 16th 2019, 6:00AM

Ana-Marie Lockyer

Ana-Marie Lockyer, who stood down from the bank at the end of last year, is now general manager of AA Finance.

But she has also joined the board of Pie Funds, which operates the Juno KiwiSaver scheme.

In addition to the board role, she will join the KiwiSaver committee and wealth and advice committee.

Lockyer has previously been a board member of the FSC and was had of strategy at ING.

“Ana has 25 years of international and executive experience in financial services including at ANZ, ING and Henderson Global Investors. Ana has strong capabilities in strategy, leadership and governance and is passionately aligned with Pie and Juno’s focus on customer experience, innovation and helping New Zealanders to make better investment choices,” founder Mike Taylor said.

Pie has been looking at options to raise capital but will not proceed with a sale of part of the business.

More than 50 New Zealand and international parties registered an interest during the process, the fund manager said, but the board had decided to implement an internal proposal for Pie and Juno.

“Multiple non-binding indicative proposals were received, reinforcing the value Pie and Juno have created and recognizing the solid growth to date, but, when considering strategic capabilities and fit, none were superior to management’s plan,” Taylor said.

“We will remain authentic to our core beliefs of performance and client service at Pie and education, with low fees and smart investing for Juno.”

Pie expects an increasing share of its growth to come from its global funds. Its strategy would involve active management, advice for clients who wanted it, genuine Investment and financial education efforts and an increasingly mature ESG approach.

“Capital wasn’t the prompt, it was distribution. And we simply did not get any proposal which was as good or better than the above and had a distribution solution.”

Tags: pie funds

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