A number of senior figures have exited AMP Capital following former CEO Boe Pahari’s demotion.
AMP Capital New Zealand managing director and chief economist Bevan Graham will be stepping down from his role after nine years with the business. Mr Graham will stay with AMP Capital “for the foreseeable future” (until January 2021) to allow for a succession process and to ensure “smooth handover”. AMP Capital will be undertaking a formal recruitment search both internally and externally to fill his role.
Head of clients Greg McMaster will also be leaving the business after eight years, while portfolio manager Kristen Le Mesurier – who oversees AMP Capital’s diversified multi-asset funds, including the Ethical Leaders Balanced Fund – is stepping down from her role to pursue opportunities outside the business. Darren Beesley and Fiona Manning have been appointed as co-portfolio managers of the Ethical Leaders Balanced Fund Range.
“Kristen has played an instrumental role in integrating AMP Capital’s ESG philosophy across all asset classes and advocating for positive change throughout the industry,” AMP said in a statement.
“Our new strategy recognises our investors in the Ethical Leaders Fund range want strong ESG management of their funds and as well as strong returns. We believe expanding the role to include two [high-quality] and experienced investment managers is the best way to deliver this outcome for clients.”
The departures come on the heels of former CEO Mr Pahari’s promotion and continue the brain drain that has seen global chief investment officer for equities David Allen, head of Australian equities Genevieve Murray, and head of sustainable investment Emily Woodland all recently deciding to leave the company. Ms Murray is set to take the role of head of listed equities at the Future Fund.
“David, Genevieve and Emily each have played a key role in resetting AMP Capital’s listed equities business and creating strong foundations for growth,” AMP Capital said.
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