Steve Merlicek will control up to $15 billion in multi-manager portfolios when he arrives at IOOF Holdings, after resigning from his long-held position as chief investment officer with the $10 billion Telstra Super.
Joining IOOF in October as chief investment officer, Merlicek will be responsible for the business’ suite of retail multi-manager products, Chris Kelaher, managing director of IOOF, said.
This would include the $8.5 billion in United Funds Management products, which became part of IOOF following the group’s merger with Australian Wealth Management in April.
“With the critical mass IOOF has achieved in this space under the merger, and our desire to continue that growth, Steve’s track record makes him an ideal candidate,” Kelaher said.
According to the IOOF website, the business holds $32.8 billion in funds under management and administration. Including the funds under advice and supervision accrued in the merger, it oversees more than $87 billion.
Telstra Super’s CEO, Martin Crowe, was unavailable for comment on Merlicek’s replacement, however there is building speculation that senior investments analyst Chris Artis may be tapped to oversee its $10 billion portfolio.