JBWere investment stalwart, Bernard Doyle, is set to leave the firm after serving almost 23 years with the National Australia Bank-owned wealth management group.
It is understood Doyle is jumping to rival share-broker house, Forsyth Barr, to take up a similar role. Officially NZ investment strategist for JBWere, the highly-respected Doyle joined the firm in March 1996.
In a statement, JBWere head, Craig Patrick, said “the work that Bernard has contributed to at JBWere NZ continues with the existing team, who have extensive industry experience in investment strategy”.
“While we are sad to see Bernard leave, JBWere remains committed to providing clients with exceptional client service and investment outcomes,” Patrick said in the release.
As well as directing in-house investment strategies, Doyle was also portfolio manager for the Devon Global Themes Fund. Devon was unable to comment on the change.
JBWere has a network of 28 authorised financial advisers (AFAs) spread across its Auckland, Wellington and Christchurch offices.
The group also has other investment specialists, namely: Hayden Griffiths, head of asset allocation; Peter May, fixed interest; Andrew Thompson, investment analyst; and, Rickey Ward joined JBWere in 2014 from Nikko Asset Management (then known as Tyndall) where he was head of equities.
The storied Australian-founded investment house manages more than $15 billion on behalf of NZ clients including “families, charitable organisations and wholesale institutions”, according to the statement.
Launched in Melbourne in 1840 by Jonathan Binns Were, the wealth management business has been through a number of ownership changes. Most recently, BNZ parent, the National Australia Bank (NAB), took full control of JBWere after Goldman Sachs sold down its 20 per cent stake in 2016.
NAB initially acquired an 80 per cent share of the-then Goldman Sachs JBWere in 2009. Goldman Sachs originally purchased a chunk of JBWere in 2003, taking on the double-barreled moniker at the time.
Doyle said in the statement: “I am sad to be departing but equally I am incredibly proud of my contribution to make JBWere what it is today. I leave it in good hands with a very experienced team and a leader in wealth management.”