Nikko Asset Management has hired two new equity research analysts, including a familiar face who previously worked the fixed income side of the street for the almost $7 billion manager.
Both Tim O’Loan and Owen Batchelor officially join the Nikko crew early in April – the former for a second time. O’Loan was a fixed income specialist for Nikko from 2012 before shifting to a broader investment analyst role with BNZ Wealth in 2018.
Batchelor was most recently vice president equity research at broking house, Jarden, following a stint with boutique corporate adviser, Woodward Partners.
Nikko flagged the need for extra equity research resources following the departure of long-time NZ senior portfolio manager, James Lindsay, last November.
At the time, Nikko NZ chief, George Carter, said the “extra analysts will take some of the research weight off the portfolio managers”.
Headed by Stuart Williams, the Nikko NZ equities team also includes Michael Sherrock, Michael De Cesare and Mei Zi Ho.
In a statement, Williams said O’Loan and Batchelor “complement and enhance the skills and experience within the existing team”.
“Tim O’Loan is, of course, well known to us and our clients and brings a deep understanding of debt structures and the financials in particular,” he said in the release. “Owen Batchelor brings huge experience in dealing with listed property companies, satisfying the demands of institutional client fund managers and the rigours of one of New Zealand’s pre-eminent share brokers.”
Prior to his earlier Nikko period, O’Loan held investment operations positions at the NZ Superannuation Fund (NZS) and ING’s wholesale fund business.
Known primarily as a wholesale manager, Nikko currently has about $6.7 billion under management across a range of asset classes.
BNZ wealth has seen a string of departures in recent weeks including head of product, Sharon Mackay, and senior investment analyst, George Thomson. Mackay is now head of third-party distribution at Fisher Funds while Thomson joined NZS as portfolio manager in the external investments team.
But the bank-owned wealth management business topped up its ranks last week with four senior appointments including three external hires.
Shivana Satyanand, Sam Josephs and Simon Sherpa have moved to BNZ product roles from Kiwi Wealth, AMP and Guardian Trust, respectively.
Both Satyanand and Josephs join BNZ as senior product and proposition managers with respective responsibilities over KiwiSaver and investments.
Sherpa, previously a Guardian Trust relationship manager, takes on the product compliance manager title.
Manjeera Hammond, previously BNZ customer strategy manager, has also been promoted to retail wealth head of customer experience.
Peter Forster, BNZ Wealth general manager, said in a release: “I’m delighted to welcome these four into our team, and they’re are joining us as we continue to grow and develop our wealth offering. Their appointment reflects our ongoing focus on delivering the best outcomes for our customers.”
BNZ fast-growing KiwiSaver scheme accounts for about half of the total $5 billion plus funds under management in the bank’s wealth arm.