AMP Capital NZ has a new managing director after incumbent, Grant Hassell, stepped up to a new role in the group.
Hassell has been named head of AMP Capital’s $72 billion global fixed income portfolio with his successor as NZ chief, Bevan Graham, to formally take up the job next January.
Currently AMP Capital NZ chief economist, Graham, would be granted “additional support… in his expanded role”, Hassell said in a note to clients.
“I will continue to be based in the Wellington office, and I will also remain a director of the AMP Capital New Zealand board,” he says in the note. “I will be working closely with Bevan over the remainder of the year and handing over my leadership responsibilities, as he takes up the new role of Managing Director & Chief Economist in the New Year.”
Hassell took over as managing director of the now $20 billion plus AMP Capital NZ in 2015 after a long career as local fixed income chief.
He replaces former AMP Capital head of global fixed income, Simon Warner, who took up the new role as global head of public markets following a recent restructure.
“Simon’s appointment brings together all of our listed markets businesses (Fixed Income, Equities and the Multi-Asset Group) into one team,” Hassell says in the note. “I am excited to be taking over the role of Global Head of Fixed Income and heading up a global fixed income team spanning Australia, the US, Hong Kong, as well as New Zealand. Not only is this a great opportunity for me personally, but I think also demonstrates AMP Capital’s commitment to being a truly global business.”
AMP Capital NZ will remain part of the wider ASX-listed AMP group, which recently confirmed plans to offload its NZ distribution businesses via an IPO planned for next year.