Russell Investments NZ has hired Brett Moffat to fill a vacant consultant spot in the Auckland office.
Moffat joins Russell from Marsh (sister firm of Mercer) where he was NZ head of private equity and M&A services since April this year. Previously, he served in a similar role for Marsh Korea for over four years.
Before Marsh he spent almost eight years in private equity and corporate advisory roles in Korea as well as close to three years as senior manager on the investment strategy team for the country’s sovereign wealth fund – the Korean Investment Corporation.
In a release, Matt Arnold, Russell NZ director, said Moffat “has a fantastic background with extensive experience in private equity and working with leading institutional investors across the Asia-Pacific region”.
“Our clients will really benefit from his experience sitting on their side of the table,” Arnold said.
Guy Fisher, Russell NZ head of investment consulting, said the firm was seeing increasing demand for consultancy and implemented solutions.
Fisher said Moffat would help “us deliver market-leading services to our local clients, especially as they look for strategies to help them navigate the challenge of lower expected returns from core asset classes”.
Russell NZ chief, Alister van der Maas, quit the firm at the end of April this year with Arnold – who joined the group as director institutional business in August 2019 – moving to lead the local operation. The Sydney-based Jodie Hampshire retains overall responsibility for Russell Australia and NZ.
In further QuayStreet Asset Management news, the Craigs Investment Partners-owned fund manager has looked internally to fill the permanent head of global equity role previously occupied by James Ring.
Following the move, Stefan Stevanovic steps up from senior analyst (and manager of the group’s SRI fund) to head of global equity.
Ring retired at the end of June after a long career with QuayStreet chief investment officer, Andrew South, assuming the global shares duties in the interim.
Like Ring, Stevanovic joined QuayStreet when the manager launched in 2014.
South said in a statement: “This new role is a reflection of Stefan’s proven track record and his great handle on global stocks. We have every confidence in Stefan’s ability; this promotion is well deserved.”
The firm has also introduced a “new team model”, the release says, that has seen another senior analyst, Xavier Waterstone, shifting to the newly created head of research position. Waterstone has been with QuayStreet since 2018.
As reported last week, the manager just hired a new fixed income, Craig Smith, to work alongside Roy Cross. Formerly senior analyst and portfolio manager, Cross – also a QuayStreet original – is now head of fixed income.
The Auckland-based firm is currently recruiting for an international shares analyst to complete the set.
Elsewhere last week, staff of the diverse Investment Services Group (ISG) selected the Women’s Refuge as recipient of the firm’s annual donation.
The $25,000 gift from ISG – a collective including Devon Funds, Clarity Funds, JMI Wealth and Select – will help support “New Zealand’s largest non-government organisation dedicated to the prevention of domestic violence”, according to a statement.
Women’s Refuge, which includes a national collective of some 40 affiliates, this year published a ground-breaking report – titled ‘Kids in the middle’ – detailing how to ensure the safety of children caught up in family violence.
Slade Robertson, Devon managing director, said in the release: “Women’s Refuge do a wonderful job in helping at-risk women and children. Sadly, they are experiencing record demand for their services at this time and we wanted to do as much as we can to support them.”