Ryan Bessemer is to step down as chief of Trustees Executors (TE) after a five-year turn at the top of the licensed supervisor and funds administration group.
According to a TE statement, Bessemer will finish his shift in November.
He replaced Rob Russell at the helm in 2018 following a long period of instability in TE. Russell was appointed to the TE board again earlier this year.
“It has been a privilege to have led Trustees Executors, which is one of New Zealand’s most enduring and capable brands. We have forged strong partnerships with our clients, and I thank them for their trust and support,” Bessemer said in the release.
“I also want to thank Trustees Executors’ skilled and dedicated staff who are passionate about what they do to help our clients. I also thank the financial services community for the support and camaraderie they have so kindly given to me as CEO.”
Russell said Bessemer had “enhanced” the TE brand, “market position, technology and customer service” during his tenure.
TE is one of five licensed supervisors with a large investment administration business that feature Fisher Funds as cornerstone client.
Bessemer came to TE from the Australian firm, Equity Trustees.