Matthew Arnold, Russell Investments NZ director, has left the business after almost five years with the multi-manager and consulting firm.
Arnold joined Russell in 2019 from State Street Singapore, where he led the exchange-traded fund arm, replacing Alister van der Maas as NZ country head two years later.
The Russell Australasian division saw a leadership change last October following the departure of Asia-Pacific chief, Jodie Hampshire.
Under the revamp, senior Russell global executive, Pete Gunning, took on the APAC head job (a role he previously held) while Tim Furlan was named as Australia and NZ managing director.
It is understood Arnold will not be replaced.
“I’ve thoroughly enjoyed my time at Russell Investments, working with a wide range of local investors from retirement schemes through to financial advisers,” he said. “Building the local fund platform and targeting a wider set of potential investors has been particularly rewarding and positions the team well for further growth. I wish my colleagues and the firm’s clients every success in the future.”
Russell NZ has about $3 billion in funds under management (including over $2 billion in its range of portfolio investment entity products) and almost $12 billion in assets under advice.
Also last week, investment platform provider, FNZ, filled its NZ leadership vacuum with internal appointments, naming 17-year company veteran, Jeremy Graham, as chief.
Graham takes over from interim head, Scott Webster, who assumed the role following the surprise exit of incumbent, Angela Vale, after just seven months in charge.
Vale had replaced then interim head, Angela Oakley, who in turn stepped into the job last February as long-time NZ chief, James McDonnell, shifted into a sales role.
Previously FNZ NZ chief operating officer, Oakely also left the firm last year with another in-house candidate, Aroha Steele, named in the position last week.
Steele joined FNZ in 2018, holding various roles including head of production support APAC and head of solution centre for Australia and NZ.
Meanwhile, Graham – a FNZ employee since 2007 – was most recently global head of talent for the investment platform pioneer, which reports about NZ$2.1 trillion in assets under administration across the world held on behalf of 650 financial institutions, 12,000 wealth managers and 20 million end clients.
The NZ platform has approximately $24 billion in assets under administration, according to a spokesperson, servicing 90,000 or so end investors.
Founded by Adrian Durham inside what was then First NZ Capital (now Jarden) in 2003, the business today employs more than 5,000 staff globally including about 500 in NZ across its Wellington and NZ offices.