AMP Capital Investors has restructured its listed Australian and international equities operations along sector lines, under the new CIO for listed assets, Mark O’Brien, while placing its multi-manager and other operations under the recently arrived head of Multi Asset Group, David Kiddie.
As the manager’s parent was planning an unsolicited bid for AXA’s Australia and NZ businesses, disclosed yesterday, Kiddie was recruited from the UK to run Multi Asset Group, which includes the $30 billion Future Directions institutional investment platform, headed by Sean Henaghan. O’Brien was formerly in charge of both direct listed assets and multi-manager funds.
In the listed space, a team of 15 analysts will be organised into sector-specific teams such as resources, financials and technology, media and telecoms, while working across equities markets. The firm has also revised its model of combined portfolio management and analyst research roles, with the roles now separated.
O’Brien said last Friday: “It will provide our analysts with greater focus on their sector of expertise, bringing more depth to company research… Australia and New Zealand are becoming increasingly aligned with Asia… by adopting sector teams that have a view across Asia and Australian and New Zealand, we can analyse companies against a regional and global backdrop.”
Hamish Carlisle, head of Asia Pacific equities research, along with three senior portfolio managers and heads of Asian, Australian and New Zealand equities – Karma Carlisle, Greg Barnes, and Guy Elliffe – will report to O’Brien.
Gary Armor’s role as head of the capital team has been made redundant. Series will not be replaced. AMP Capital is currently looking for a senior resources analyst and industrials analyst to join their research team.
The roles and teams of Michael Anderson, head of sustainable funds, and Mark McClatchey, head of multi strategy and quant funds, will remain unchanged. They will continue to report to Mark O’Brien.
“The more defined roles also provide clearer career path options for our team and support the development of management,” O’Brien said.
Both O’Brien and Kidde report to AMP Capital chief executive Stephen Dunne.
AMP Capital also recently recruited Anthony Fasso from AXA Investment Managers and its associated AXA Rosenberg in Hong Kong as managing director of international.
That appointment, however, is thought to be coincidental with the bid for AXA Australia, which is driven by the looming changes to the financial planning market in Australia.
With planners moving to a fee-for-service model under both FPA and IFSA plans, the big retail distributors are considered likely to want to shore up their “tied” distribution networks.