Two departures for Nikko NZ as Carter and Wesley leave in March

Nikko Asset Management NZ is facing a management change, with Managing Director George Carter and Sales Head James Wesley due to retire in March.

Stuart Williams, current Head of Equities, will succeed Carter, who will return to his native England for personal reasons. Michael Sherrock will support his Williams as co-head of the NZ equities team.

Meanwhile, in a vote of confidence, Wesley was promoted to Deputy Chief Executive Officer of Nikko America’s operations in New York. Sam Bryden is promoted from senior relationship manager to head of distribution after Wesley leaves for the United States.

Carter said Nikko had a strong succession plan.

In a statement released this morning, Williams said: Having invested in people so far means we already have good candidates to step up to leadership roles…”

Carter succeeded Peter Lynn as Chief of Nikko NZ at the end of 2015 and was Head of Sales at AMP Capital NZ for six years.

Williams joined Nikko in 2014 after working at ANZ Investments.

Carter, a licensed actuary during his tenure. Product suite rationalization and robo-advisor (Goalsgetter) and he oversaw the entry into the retail market with the Nikko KiwiSaver scheme.

Nikko NZ’s assets under management have grown by more than 70% since 2016, from $4.6 billion to around $8 billion today, most of which is still funded by institutional investors.

In the wake of the remodel, Nikko recruits a replacement for Bryden.