• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / IIS lands ANZ tech leader for board; AMP Life sorts investment roles

IIS lands ANZ tech leader for board; AMP Life sorts investment roles

June 29, 2020

Liz Maguire: IIS director

Former ANZ NZ head of digital and transformation, Liz Maguire, has joined the Implemented Investment Solutions (IIS) group of companies as director.

IIS founder, Anthony Edmonds, said Maguire would serve as an independent director on the boards of both IIS and subsidiary firm InvestNow.

Edmonds said securing Maguire on the dual boards was a “real coup” for both IIS and InvestNow as the companies embark on a new period of technology-led growth.

“Liz brings a huge amount of experience in the digital space including more than five years heading up ANZ bank’s digital team,” he said. “She also was on the senior leadership team, and had governance responsibility for the custody part of ANZ’s NZ business.”

Maguire replaces former IIS director, Lee Mauger, who, ironically, resigned earlier this year to take up a top technology role at ANZ NZ.

According to Edmonds, Maguire would bring a depth of technological and industry insight as both InvestNow and IIS develop further.

“InvestNow recently passed $500 million in assets under management, and continues to grow rapidly,” he said. “We are also about to launch our KiwiSaver offering which will enable people to select a range of active, indexed, and socially responsible funds from a range of different investment managers.”

The IIS fund-hosting business, which currently has nine underlying clients, was also on a growth curve with an increasing number of offshore managers looking to establish a presence in NZ, Edmonds said.

“Wholesale clients have pretty limited choices when it comes to being able to access really good global equity managers in tax effective solutions, and a number of global equity managers are seeing this as an opportunity to come into the NZ market,” he said.

Maguire said the IIS group was a good example of how businesses using smart technology coupled with deep industry knowledge can operate on level terms with established institutions.

“The digital transformation of the financial services industry means that companies like InvestNow can compete head-to-head with established market players, which makes an exciting and interesting dynamic,” she said. “It is fascinating to look at this from the perspective of the growth opportunity for a new generation of businesses like InvestNow, rather than the defensive perspective of a large incumbent firm like ANZ.”

Elsewhere, AMP Life has confirmed Greg Bird as chief investment officer after the NZ regulator waved through the A$3 billion sale of the insurance operation last week.

Bird has served almost 20 years with AMP in various roles across Australia and NZ including the last three as chief actuary, a title he retains.

Former AMP Life chief investment officer, Jeff Brunton, has stepped down a rung to the deputy position. Megan Beer will stay on as AMP Life chief post sale, which should close on June 30.

Last week the Reserve Bank of NZ (RBNZ) approved the sale of AMP Life to Resolution Life – an agreement first inked in 2018 – after rejecting an earlier version of the deal last year.

Under the revised terms set by the RBNZ, Resolution Life will establish a “bespoke trust” in NZ with assets held locally.

“In addition, the model will see the establishment of a new, locally incorporated insurer Resolution Life New Zealand (RLNZ),” the RBNZ said in a statement. “The RLNZ board will have a majority of New Zealand resident, independent directors. RLNZ will act as Trustee to the Trust and will effectively manage the assets held in the Trust.”

It is understood, AMP Capital would continue to manage assets on behalf of Resolution Life for a certain period of time. According to the 2019 AMP annual accounts, the group would transfer at least A$985 million of regulatory capital to Resolution on completion of the life business sale. As well, AMP would pass on to Resolution “any capital that was required to support AMP Life’s balance sheet as at the June 30, 2018 sale date”.

AMP was trading at about A$1.85 on Friday, down slightly from the A$1.90 it jumped to after confirmation of the life sale but still well above the all-time low of A$1.11 recorded on March 24.

 

 

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • What do ‘Kiwi’ experts see for 2021? January 28, 2021
  • KiwiWRAP lays down investment backing tracks January 24, 2021
  • Government to set eyes on PIEs as tax hike bites January 24, 2021
  • Venture fund hires short-term chief, refits board January 24, 2021
  • MJW finds KiwiSaver manager choice matters more at riskier end… January 24, 2021
  • … as weight gain spread among mid-level schemes January 24, 2021
  • NZX admin unit confirms old client for new platform January 24, 2021
  • NZ Super adjusts dials on reference portfolio as risk-return gauge edges up January 24, 2021
  • State Street wins Perpetual custody job January 24, 2021
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Most Recent Investment News

What do ‘Kiwi’ experts see for 2021?

January 28, 2021

KiwiWRAP lays down investment backing tracks

January 24, 2021

Government to set eyes on PIEs as tax hike bites

January 24, 2021

Venture fund hires short-term chief, refits board

January 24, 2021

MJW finds KiwiSaver manager choice matters more at riskier end…

January 24, 2021

Search by Keyword

Investment News

  • What do ‘Kiwi’ experts see for 2021? January 28, 2021
  • KiwiWRAP lays down investment backing tracks January 24, 2021
  • Government to set eyes on PIEs as tax hike bites January 24, 2021
  • Venture fund hires short-term chief, refits board January 24, 2021
  • MJW finds KiwiSaver manager choice matters more at riskier end… January 24, 2021
  • … as weight gain spread among mid-level schemes January 24, 2021
  • NZX admin unit confirms old client for new platform January 24, 2021
  • NZ Super adjusts dials on reference portfolio as risk-return gauge edges up January 24, 2021
  • State Street wins Perpetual custody job January 24, 2021
  • New future-facing FAP compliance firm fronts up January 24, 2021

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Funds eye bargains, self-shoppers hoard cash, KiwiSavers turn conservative posted on March 15, 2020
  • AMP Capital NZ chief quits amid equities exodus offshore posted on August 28, 2020

Sponosored Content

What do ‘Kiwi’ experts see for 2021?

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

David-Boyle

Charge of the lite (advice) brigade

Nathan Field

Pandemic Baby Boom a Bust

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • What do ‘Kiwi’ experts see for 2021? January 28, 2021
  • KiwiWRAP lays down investment backing tracks January 24, 2021
  • Government to set eyes on PIEs as tax hike bites January 24, 2021
  • Venture fund hires short-term chief, refits board January 24, 2021
  • MJW finds KiwiSaver manager choice matters more at riskier end… January 24, 2021
  • … as weight gain spread among mid-level schemes January 24, 2021
  • NZX admin unit confirms old client for new platform January 24, 2021
  • NZ Super adjusts dials on reference portfolio as risk-return gauge edges up January 24, 2021
  • State Street wins Perpetual custody job January 24, 2021
  • New future-facing FAP compliance firm fronts up January 24, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions