It is understood the NZX has reached internally to fill the newly-created position of chief executive officer funds management.
After a prolonged executive search, managed by the Wellington branch of global recruitment firm, Korn Ferry, current NZX head of markets, Aaron Jenkins, has been tipped to take on the Auckland-based funds management role.
Also based in Auckland, Jenkins joined the NZX in January 2014 after a stint as Fonterra’s head of trading among farmers, according to the NZX website.
“Prior to this, he held senior technology and business roles with E*Trade, one of Australia’s largest non-bank financial services businesses, and spent more than 13 years with ANZ Bank in Australia, NZ, Asia and the United Kingdom,” the NZX profile of Jenkins says.
The NZX began the search for head of funds management last December after spending $20 million – with a further $15 million hinging on FUM targets – to buy KiwiSaver and superannuation firm, Superlife.
In a statement announcing the deal, the NZX said it “intends to manage the combined funds management business separately from its capital markets business”.
“As part of the acquisition, SuperLife’s directors, Michael Chamberlain and Owen Nash will continue on as directors of SuperLife, and Mr Chamberlain will join NZX’s management team,” the NZX release says.
Chamberlain is listed as “Superlife co-founder” on the NZX website.
Superlife boasts about $1.2 billion under management across its KiwiSaver and super products, most of which is invested passively.
The NZX plans to boost its exchange-traded fund (ETF) Smartshares business with Superlife. Since buying the firm, the NZX has seeded five new ETFs with Superlife funds, bringing the Smartshares range to 10 products.