Mercer NZ is recruiting for a new chief investment officer (CIO) to be based in either Wellington or Auckland.
The NZ CIO will report direct to Mercer Pacific CIO, Kylie Willment, in a role requiring the successful candidate to “deliver strong investment outcomes for Mercer NZ’s Investment Solutions (IS) clients through excellence in investment decision making and implementation”, according to the recruitment ad.
Current Mercer NZ CIO, Ronan McCabe, was due to cross the ditch from his Sydney home last year after securing the job in a full-time capacity in January 2021.
McCabe, who doubles as Mercer Pacific head of portfolio management, served as interim CIO for the NZ business following the exit of incumbent, Philip Houghton-Brown. Houghton-Brown took up the head of investment solutions role at the Westpac-owned BT.
“The CIO NZ will provide leadership to a team of investment professionals in overseeing strategic positioning and day-to-day management of the Funds in a manner that is consistent with objectives and risk parameters, as well as ensuring that the Funds are aligned with regulatory and compliance requirements at all times,” the Mercer ad says.
“The incumbent will be a visible face of Mercer in the marketplace, create a diverse, inclusive and flexible work environment, develop and mentor talent, and foster a strong risk culture. They will also need to work collaboratively across Mercer in the Pacific as well as globally to deliver the best of Mercer to our clients.”
Mercer NZ head of consulting, David Scobie, also left at the end of March after almost 20 years with the business. Scobie moved to the newly created position of principal advisor on the Treasury capital markets division.
It is understood Mercer will look to recruit a new consultant while redistributing some of Scobie’s duties among existing team members.
The global multi-manager and investment consultancy business has more than $10 billion under management in NZ including over $2 billion in its KiwiSaver scheme.