AMP head of corporate super, Yvonne Davie, has left the group to take up a new role with Craigs Investment Partners in Tauranga.
Davie officially ends her latest six-year term at the Wellington AMP base near the end of this month but is on leave until then.
She starts with Craigs early in February as manager of the firm’s superannuation and savings division. Craigs is the largest stock broking firm in NZ but also manages about $1 billion via two KiwiSaver schemes and its fund subsidiary, QuayStreet Asset Management.
An AMP spokesperson confirmed Davie had resigned “to pursue another opportunity in a different part of New Zealand”.
“We have appointed her replacement and an announcement will be made in due course,” the spokesperson said.
Prior to rejoining AMP (where she served as a business development manager from 2001 to 2005), Davie was a senior relationship manager with platform firm FNZ.
She also spent almost five years at the NZX, first as head of business for Smartshares followed by a similar role at research house FundSource (now owned by Australian firm Zenith Investment Partners).
Davie’s exit follows the departure of AMP head of client relationships, Donna Mason, who shifts to Smartshares to fill the head of corporate super spot left vacant last July by Ian Miller.
Miller, a former head of corporate super at AMP, joined Simplicity as sales chief. At the same time, the NZX hired AMP head of customer service, Helen McDowall, as chief operating officer for the funds business.
Mason worked at AMP for almost 12 years in various positions across its direct, adviser-delivered and workplace savings products.
AMP is the currently largest corporate superannuation player in the country, managing about $3.5 billion in the NZ Retirement Trust (NZRT).
Corporate super is a dwindling market in NZ, however, the roughly $9 billion master trust sector where the NZRT plays has seen some growth of late as a number of stand-alone employer schemes wind down.
In spite of its market-leading position the NZRT faces some uncertainty given the drawn-out sales process surrounding AMP NZ. The ASX-listed AMP put the NZ wealth management arm on the block last August with several suitors understood to have made the short-list.
According to the AMP spokesperson, there was “no further update” on the sale negotiations.