Russell Investments NZ senior consultant, Julian Darby, has resigned after 13 years with the business.
Darby joined Russell as a consulting analyst late in 2007, rising to his current position in 2015.
Previously, he spent about eight years as a finance lecturer at the University of Auckland.
It is understood Darby will take up an independent director role at a family office that uses Russell for investment consulting.
Russell NZ head, Alister van der Maas, said the firm had begun recruiting for the role with some “strong candidates” already in the frame.
“We’re sad to see Julian leave – he’s been a good friend and colleague for a long time – but he goes with our blessing,” van der Maas said.
According to the job description, the senior consultancy role involves both providing investment advice and relationship management duties.
“This position works within our NZ Institutional team which spearheads the production of investment advice, promotes our offering to current and prospective clients, and aims to increase the footprint of Russell Investments as a market leader in the Financial Services industry,” the ad says.
Darby officially finishes with Russell at the end of August.
Russell NZ has seen a few changes to its line-up over the last couple of years including the appointment of Matthew Arnold last August to replace Noah Schiltknecht as head of institutional. At the same time, the Auckland-based firm named Mihir Tirodkar and Mohamed Ayaz as analysts.
In 2018, Guy Fisher joined Russell as a senior consultant from Aon Hewitt, stepping in for George Thomson who moved to BNZ (before shifting to the NZ Superannuation Fund as a portfolio manager this February).
Van der Maas said the group was also hiring for a newly created fund distribution role to help grow its presence in the financial advisory and smaller institutional space.
The fund business development manager will “focus on positioning and distributing the suite of Russell Investments solutions with Advisor and Dealer groups as well as with other wholesale investors”, the job description says.
Meanwhile, rival consulting firm Mercer NZ has appointed Whai Rawa executive director, David Tikao, to its client advisory committee. Tikao officially joined the Mercer panel this May.
The Ngāi Tahu fund subsidiary, Whai Rawa, uses Mercer for both investment and administration purposes.
Mercer is also looking to fill a top executive position following the resignation of chief investment officer, Philip Houghton-Brown, earlier this month.
Houghton-Brown will end his eight-year stint with Mercer in September when he assumes the BT Funds Management NZ head of investment solutions role previously held by Matthew Goldsack.
Goldsack, resigned earlier this year to take over the head of investment job at charitable fund group, Trust Management.