Russell Investments has hired former UK-based Morningstar data services manager, Scott O’Ryan, in a newly created business development role in NZ.
O’Ryan will be responsible for growing the Russell footprint “within the financial advisory and wealth management sector, mainly through distributing the firm’s range of multi-manager and directly managed funds”, according to a release.
He returned to his native NZ last year following a career in the UK with Morningstar that included senior roles “delivering bespoke data services” to the institutional market.
In a release, Russell NZ head, Alister van der Maas, said the new appointment came as the “wealth management and financial advice industry continues to evolve rapidly in New Zealand and around the world”.
“Local advisers are looking to global firms such as ours to bring best practices to the market and develop high quality managed funds and investment solutions for use in their client portfolios,” van der Maas said. “In this difficult time, Scott’s analytical and client-facing experience will help him bring the best of what Russell Investments offers globally to assist advisers and wealth managers build better, more resilient portfolios for their clients.”
Russell has about $4 billion under management source from NZ, including some via the Aon Russell KiwiSaver funds.
O’Ryan said in the statement: “I look forward to bringing [Russell’s] global capabilities to help local advisers meet today’s investment challenges.”
In September this, Russell NZ named David Kandziora as a senior consultant, replacing long-time incumbent, Julian Darby.
The Auckland-headquartered firm has seen other senior staff changes over the last year or so including the appointment of Matthew Arnold as NZ head of institutional last August, filling a role left vacant by Noah Schiltknecht. Post Russell, Schiltknecht launched a boutique consultancy business, Makao Investments.
Meanwhile, former Russell NZ head of asset consulting, Andrew Johnson, has joined the Ports Retirement Plan as its new licensed independent trustee (LIT).
After leaving Russell in 2018, Johnson has assumed several LIT and other consulting roles.
He steps in for Paul Drummond, who served as LIT for the $75 million Ports scheme since 2016.
Elsewhere last week, Craigs Investment Partners has bolstered its senior executive team with two internal promotions and a new chief operating officer (COO) lured from London.
Under the in-house changes, Jeremy Williamson moves from investment banking managing director to the newly created head of private wealth and markets role; Tim Kiefte, meanwhile, shifts from area manager to head of advisory.
At the same time, Ryan Bacher takes up the Craigs COO job (also newly created), emigrating from the UK where he was Barclays International regional chief operating officer across Asia-Pacific, Europe and Middle East.
Craigs managing director, Frank Aldridge, said in a release that the “change in executive structure will position Craigs for further growth and adds significant breadth and strength to our senior management team as the firm continues to grow strongly”.
The nationwide broker network has about $23 billion in assets under management, serviced by 165 investment advisers in 19 offices.
Earlier in November, rival firm Forsyth Barr leapt above Craigs as per authorised financial adviser (AFA) numbers for the first time after purchasing the Westpac advisory business. However, including Westpac money, Forsyth Barr has about $15 billion under management.
Also last week, Milford Asset Management promoted Marissa Rossi to the new head of sustainable investments position in its Australian office.
Rossi joined Milford Australia in a senior analyst role last July following a 17-year career at UBS Asset Management, which included a stint as lead portfolio manager for sustainable Australian equities.
Wayne Gentle, Milford chief investment officer (a trans-Tasman responsibility), said in a statement that Rossi would build out the manager’s sustainable investment approach.
“This includes working with the investment team to further strengthen the integration of ESG factors into our investment process,” Gentle said.
Milford also boosted its Australian equities team last week, hiring Jason Kururangi as senior analyst. Previously, Kururangi served eight years with Aberdeen Asset Management in Australia and the UK.
He who will work alongside portfolio managers Gentle and William Curtayne on the Milford Australian Absolute Growth Fund. Milford launched the Australian strategy about three years ago, looking to replicate the success of its flagship NZ Active Growth Fund.