Newly launched NZ diversified financial services group, Amplifi, has named former ANZ senior executive, Fred Ohlsson, to head the organisation.
Most recently ANZ Australia division group executive, Ohlsson, takes on the Amplifi managing director role as the firm embarks on a strategy to acquire a suite of high-quality NZ financial services businesses across the advisory and asset management sectors.
Amplifi formed last year in a joint venture between Mint Asset Management and Auckland-headquartered private equity firm, Ascentro Capital Partners.
In a statement, Mint chief, Rebecca Thomas, said: “The investment and wealth management markets are becoming increasingly sophisticated, with a new breed of financial advisers and new regulatory framework creating opportunities that has led to the establishment of Amplifi Group.
“That we have attracted a leader of Fred’s calibre validates what the Mint brand and team have achieved in serving our clients. Our international expertise at a management level is a point of difference in the local market, and our global perspective helps inform our investment approach and ambitions for our clients.”
Ohlsson, who has been consulting on business strategies with a number of top Australasian companies over the last two years, completed a distinguished 20-year career in various senior roles at ANZ on both sides of the Tasman in 2019.
He led the ANZ Australia unit – the largest single division in the group – from 2016 following three years as head of retail and business banking for the NZ business.
Previously, Ohlsson served in a string of ANZ senior roles both in Australia and NZ, dating back to 2001. As well, he spent a couple of years with global consultancy firm, McKinsey & Co, in India and Australia after emigrating from his native Sweden in 2000.
“I am excited to see what we can do with the Group based on the foundations established by Mint,” he said in the release.
“… There are so many opportunities, and together Rebecca and I will be drawing on the capability that exists within the Mint and Amplifi teams to offer the market better solutions across the board.”
Thomas will remain as Mint CEO.
Launched in November 2021, Amplifi is 70 per cent owned by Mint Asset Management while Ascentro holds the remaining shares.
Mint, founded in 2006 by Thomas, has $1.7 billion in assets under management from retail and institutional clients including a long-standing, recently increased, NZ equities mandate from the NZ Superannuation Fund.
Amplifi is a long-term holding for specialist private equity firm, Ascentro, which recently exited its first seed investment, Provincial Education Group – sold to an Australian group for $160 million in 2021.