Veteran Colonial First State marketer, Nicholas Allen, has been placed into a redeployment pool following a restructure of institutional marketing at the group.
Allen had been working as general manager distribution and marketing Asia Pacific within the CFS Global Asset Management (CFS GAM) business. Prior to CFS GAM being spun off as Colonial First State’s wholesale manufacturing business in 2005, Allen had for several years spearheaded the manager’s institutional marketing. However his latest role has been made redundant following a review conducted by Neal Cochrane, who joined CFS GAM last October as deputy chief executive and global head of business development. A spokesperson for CFS GAM parent Commonwealth Bank said Cochrane was reorganising distribution roles along global lines. The spokesperson said Allen could be offered positions anywhere within the bank, but she was unaware of a timeline for such offers to be made.
The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
