Long-time Russell Investments executive, Andrew Pease, is set to return home to Australia next month to take on a newly created regional gig at the more than US$330 billion multi-manager.
As Asia-Pacific head of investments, Pease will report to Russell global head of portfolio management, Jon Eggins.
Pease joined Russell in 2006, serving in multiple roles, most recently as global chief investment strategist based in London.
The Australasian Russell leadership has seen several changes of late with NZ head, Matthew Arnold, departing last year and Australasia managing director, Tim Furlan, ending an almost 21-year run with the business this February.
In May 2024, Jason Edgar also replaced another Russell veteran, Pete Gunning, as APAC head. Gunning took on the vice chair job at Russell, a firm he joined in 1996.
According to a Russell statement, Pease has been charged with duties including “enhancing the alignment between global research and local portfolio needs, strengthening multi-asset capabilities, and helping clients navigate evolving market challenges with greater precision and insight”.
Kate El-Hillow, Russell chief investment officer, said in the release that Pease was a “seasoned investor”
“His appointment reflects our commitment to deepening regional expertise and better aligning our investment platform with client needs across the globe,” El-Hillow said.
US private equity firms, TA Associates and Reverence Capital, bought Russell in a US$1.15 billion deal in 2015.
Meanwhile, super-sized NZ financial advisory network, Wealthpoint, has hired veteran fund manager, Andrew Couch, as head of investments to replace incumbent, Keri Jenkins.
Couch will oversee the roughly $3.5 billion of funds held across the advice business including $1.7 billion in KiwiSaver, $1 billion on platforms and a discretionary investment management service (DIMS). Wealthpoint also uses Makao Investments as an independent consultant to construct the DIMS portfolios and other duties.
“His focus will be on delivering institutional-grade capability tailored to the needs of independent advisers and their clients,” according to a Wealthpoint statement.
He has a long history in the funds management and transport investment sectors both in the UK and NZ dating back to 1990. After spending more than a decade in the UK with stints at both Investec and Newton Investment Management, Couch moved to NZ to help run Salvus Asset Management – a specialist local small-cap listed fund manager – for almost nine years.
Salvus was ultimately wound-up but he has held several investment consultancy roles since across financial advice – notably, an almost four-year turn at Auckland boutique, Fabric Wealth – and transport-related businesses.
Simon Manning, Wealthpoint chief, said the group received “strong interest” in the head of investments gig.
“Andrew stood out for his global expertise, his commitment to independent advice, and his proven ability to build high-performing investment functions,” Manning said.
Jenkins handed in her notice in March this year after five years with the group “to focus on growing a business she owns outside of the financial services industry”, a Wealthpoint spokesperson said at the time.