New Zealand

Top ANZ Fund Executives Head to the Door

Fiona Mackenzie: ANZ Funds Management Managing Director

ANZ Investments wiped out its senior staff before Christmas, with two longtime employees set to retire from their $30 billion-plus managers early next year.

In a note to clients this week, ANZ confirmed that Alan Clarke, co-head of diversified portfolio management and head of Australian equities Craig Brown, will leave the company next March.

Clarke and Brown joined ANZ in 2006 and 2008, respectively, and held several investment positions during that time.

“Both of us have determined that the time is right to consider other opportunities, but we are both in the process of hiring to replace them, so we will not be taking the role until March 2023. We will continue,” said the ANZ memo.

“Maaike Van Tol, former co-head of diversified portfolio management, will assume full responsibility for asset allocation and will hire two analysts to increase the capacity of her team in the new year.”

ANZ is also understood to be considering hiring an external manager head, which Clark had previously done.

“Additionally, recognizing the importance of our focus on responsible investment, we have hired two analysts to join our responsible investment team led by Helen Skinner,” said ANZ’s client communication.

Skinner joined ANZ earlier this year in the newly created role of Head of Responsible Investment.

Following the resignation of its wealth director last year, bank-owned business Craig Mulholland has appointed Fiona McKenzie to another new role as managing director of money management at ANZ.

Mackenzie, who previously headed Jarden’s direct wealth division, formally joined ANZ in January.

Stewart Taylor, ANZ’s Chief Financial Officer (CFO) and head of wealth from April to December last year, also stepped down in March. Taylor assumed his CFO role on Partners Life.

ANZ is NZ’s largest retail fund manager, managing over $30 billion, including nearly $20 billion across three KiwiSaver schemes. Total funds under management also includes certain institutional and wholesale mandates. Top ANZ Fund Executives Head to the Door

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