The NZX has hired AMP NZ head of customer service, Helen McDowall, as chief operating officer (COO) funds management.
McDowall, an eight-year AMP NZ veteran, replaces NZX funds COO, Stephen Upton, who resigned last month. She was head of operations for AMP before taking up the customer service role in 2015.
Prior to joining AMP in 2011, McDowall served in various product, client service and operations positions at Apello and ASB.
Hugh Stevens, NZX funds chief, said McDowall’s long institutional investment operations experience would strengthen the $3 billion plus business as it gears up for further growth.
It is understood that Upton, who joined the NZX in 2015, has moved on to a start-up funds management business along with former colleague, Dean Anderson. Both Anderson, former NZX Smartshares head of product, and Upton are shareholders in Kernel Wealth along with the Zino Angel Fund.
The Zino Angel Fund is operated by Zino Ventures, which bills itself as the “first Chinese led investment fund focuses on empowering NZ Technology based expansion stage companies to the Chinese speaking markets”.
Meanwhile, the NZX is on the lookout for a new head of corporate super after incumbent, Ian Miller, decamped to Simplicity this week.
Westpac NZ is also hunting for a senior back-office specialist with a wrap and managed funds manager role up for grabs.
According to the job specifications, the Westpac wrap position function includes oversight of: “… implementing investment portfolios and administering investments, quality control activities, management reporting, ad hoc and statutory client reporting, and providing specialist administrative support to Westpac’s Wealth Advisers, Westpac’s Wealth Consultants clients and investors.
“The multi-faceted products, co-ordination of third party provider delivery and multiplicity of systems make for a complex administration environment.”
Westpac has about $4 billion administered via its wrap service, which is currently on the Aegis platform.
Also last week, Michael Dale, Australasian head of sales for Western Asset Management, was promoted to a new Singapore-based role for the global fixed income firm.
Dale, named Western head of Asia Pacific (ex-Japan) client service and marketing, has been replaced in the Melbourne-based Australasian role by Jonathan Baird – also an internal promotion.
Western has a handful of institutional clients this side of the Tasman, most recently winning a spot on the Russell Investments NZ fixed income fund.
In a statement, Western said Dale would focus on “deepening relationships with current clients and bringing Western Asset’s diversified and specialized fixed-income investment solutions to clients in Asia, Australia and New Zealand”.
Baird will report to Dale, who in turn answers to Western chief, James Hirschman, and head of international client service and marketing, Rudi Otter.