ANZ Investments has suffered a double-blow with two long-time senior members of the funds management team set to leave.
The bank-owned business told clients today that Craig Tyson, head of Australasian listed property, and Maaike van Tol, head of asset allocation, would both be exiting the $33 billion plus funds management business over the next couple of months.
Tyson departs to “explore new opportunities” at the end of June after almost 20 years at the ANZ funds shop while van Tol, a nine-year veteran at the group, finishes up late in April to take up a role in the NZ Superannuation Fund (NZS) asset allocation team.
ANZ will merge the Australasian listed property and local shares team under the leadership of head of equities, Max Lesser, once Tyson steps down, the note says.
Meanwhile, Sue Brake, former chief investment officer of the Australian Future Fund, will serve as acting head of asset allocation to fill in for van Tol.
The ANZ funds business, now headed by Fiona Mackenzie, has seen a number of senior investment staff jump ship over the last couple of years including CIO, Paul Huxford, head of diversified portfolio management, Alan Clarke, and Craig Brown, head of Australasian equities.
George Crosby, former NZS general manager portfolio completion, replaced Huxford as CIO this month while, Matt Young, who has served in the role in an interim capacity since last year, has been named deputy CIO.
Next month, Paul Gregory, also joins the ANZ fund house next month in the newly created role of director of investment partnerships. Gregory was previously executive director response and enforcement at the Financial Markets Authority.
He reports to Crosby.
With more than $33 billion under management, including $20 billion in KiwiSaver, ANZ is the largest retail funds business in the country.
Last year Mackenzie announced ANZ was also in talks with BlackRock and Mercer to take over certain investment or administration functions.