Nikko Asset Management NZ boss, Peter Lynn, will head to Singapore in November to take up a senior global role with the Japan-headquartered firm.
Lynn told Investment News NZ (IN NZ) he would assume the position as Nikko head of product promotion in mid-November.
“It’s a new business unit within Nikko,” he said. “I’m looking forward to the challenge. Singapore has become a global hub for the Nikko business.”
According to Lynn, he would be responsible for promoting a wide range of Nikko funds – including its global multi-asset products – both internally to regional group offices and to external clients.
As reported by IN NZ on September 18, AMP Capital head of distribution, George Carter, will be replacing Lynn.
Carter is currently on gardening leave from AMP Capital before formally taking up the Nikko job in six weeks.
“I wish George all the best in taking the Nikko NZ business to the next level,” Lynn said.
As at July this year Nikko NZ managed more than $4.6 billion, representing a $700 million increase compared to December 2014.
In a statement issued last Friday, Takumi Shibata, Nikko Asset Management CEO, said: “We are delighted to welcome George Carter to Nikko Asset Management to lead our New Zealand team,” said “With his proven track record and reputation in the New Zealand market, George is well-placed to build on the momentum established under Peter Lynn’s leadership.”
Grant Hassell, AMP Capital NZ chief, said the firm had started the recruitment process for Carter’s replacement.
Meanwhile, AMP Capital Australia recently appointed Carmel Hourigan as global head of property.
Hourigan will take over the role from current AMP Capital property chief, Adam Tindall, who has been promoted to managing director for the firm.
Tindall inherits the top job from Stephen Dunne, who retires from AMP Capital in October this year.
Hourigan was most recently chief investment officer at the GPT Group. She is also vice president of the Property Council of Australia.
AMP Capital NZ property portfolio is managed from Australia.
“[Hourigan] is a very senior appointment and an exciting one for our business,” Hassell said.