The current chief executive of BT Investment Management Australia will retire, with former First State Super chief investment officer Richard Brandweiner to take his place.
According to an ASX statement, Richard Brandweiner will take the reins of BT Investment Management Australia when chief executive Michael Bargholz retires at the end of July.
Group chief executive Emilio Gonzalez said Mr Bargholz will leave the company with a “very capable management team” and thanked him for his contribution.
“While we are disappointed to see Michael leave, I admire his leadership in setting the long-term strategy of the Australian business and respect his decision that now is the right time for him to hand over the reins,” Mr Gonzalez said.
Mr Bargholz said he was proud to have led some of Australia’s investment firms after 30 years in the industry.
“I hand the reins with confidence to Richard Brandweiner to lead the growth in the BTIM Australia business,” he said.
Mr Brandweiner will take up the new role later this year, departing from his role as partner at global impact investment firm Leapfrog Investments.
Prior to that, Mr Brandweiner was chief investment officer at First State Super and was also group chief executive at Perpetual Investments, among other investment roles, where he chaired a number of committees.
He also has further board experience having sat on board committees for the Australian Financial Services Council, the Association of Superannuation Funds of Australia, the Australian Advisory Board for the Global Social Impact Investment Taskforce and is a former President of CFA Society’s Sydney chapter.
Although Mr Bargholz retires in July, Mr Brandweiner will begin his new role on 26 February.
“In finding and appointing someone of Richard’s calibre and experience, we have achieved a seamless transition,” Mr Gonzalez said.
“Richard’s investment management experience makes him an outstanding choice to lead the Australian business.
“I look forward to working with Richard in his role of chief executive of BTIM Australia and as a member of the global executive committee as we continue to execute our strategy of building and growing a diversified global asset management business.”
Commenting on his own appointment, Mr Brandweiner said he was “very much” looking forward to joining the team of one of Australia’s top investment management businesses.
“I believe there is significant potential to continue to build the business off the back of its strong leadership, clear long-term strategy and genuine focus on delivering the best outcomes for clients,” he said.
“BTIM’s high quality investment capability and leadership position in responsible investing provides a strong foundation for the future.”