Maple-Brown Abbott (MBA) global listed infrastructure portfolio manager, Lachlan Pike, has left the business he co-founded more than seven years ago.
In a letter to investors, MBA global listed infrastructure director, Andrew Maple-Brown, said the team “remains highly experienced and well-resourced” with six investment specialists still running the show.
“Whilst it is rare that we have someone leave the business – being the first and only departure from the Global Listed Infrastructure team in more than seven years – we have always been prepared for such eventuality,” Maple-Brown says in the letter. “Lachlan’s research work has already been well reallocated within the six-member team and we expect to announce some additional resourcing in the near term.”
Pike jumped ship from Macquarie in 2012 along with Maple-Brown (who is son of MBA co-founder Robert Maple-Brown), Steven Kempler and Justin Lannen to launch the global listed infrastructure capability in MBA, primarily known then as an institutional Australian equities firm.
ANZ Investments (NZ) seeded a new global listed infrastructure mandate with MBA last year, tipping in $250 million to start – a figure that has likely more than doubled since.
The MBA fund, promoted by Heathcote Investment Partners this side of the Tasman, also has a retail following in NZ through financial advisers.
“Maple-Brown Abbott continues its strong commitment to the Global Listed Infrastructure business and we are confident that the depth and breadth of our existing research team remains well placed to deliver on your investment with us and we thank you for your ongoing support,” Maple-Brown said. “We know this is a challenging time for all of our clients, and are dedicated to working through this with you…”
The wider MBA group also revealed another staff change last week as Christine Cameron resigned as head of institutional and strategic relationships.
However, Cameron will remain on the MBA asset allocation committee as an independent member. She joined MBA in 2013 following a stint at Russell Investments.
Late in March, MBA named Duncan Hodnett to the newly-created head of global distribution role.
Elsewhere, the embattled ASX-listed AMP has hired Scott McIsaac as risk and regulatory lead. McIssac joins AMP from Australian Catholic Superannuation where he was head of risk and compliance.
Among a host of other executive changes over the last couple of years, AMP chief risk officer, Jenny Fagg, also ends her two-year run with the financial services conglomerate this month.
As announced in February, former chief audit executive, Phil Pakes, replaced Fagg on April 3.
AMP withdrew its financial year earnings guidance late last month citing the “impact of coronavirus”.
“Due to the uncertain environment and resultant challenges in providing accurate forecasts for this year, AMP is withdrawing the FY 20 guidance outlined in February 2020,” the group said in a release.
However, the firm was still on track to complete the sale of its life business (to Resolution Life) by the end of June while the NZ wealth arm “divestment process” continues apace, the statement says.
AMP says it would provide a “further update… at or before” the release of its June first half results on the status of the NZ wealth sale, which is understood to have winnowed down to a short-list of two or three contenders.
Elsewhere, Morningstar has doubled its NZ contingent after luring Scott O’Ryan across from the researcher’s London office.
O’Ryan takes on a role as senior presales consultant based in Auckland, reprising his most recent UK duties.
He joined Morningstar in 2011 as an intern fund analyst.
Greg Bunkall, Morningstar data director Asia-Pacific, has been the researcher’s sole boot-on-the-ground in NZ for a couple of years.