AMP Capital Investors’ asset allocation and investment strategy team, headed by Shane Oliver, will take responsibility for the managers’ New Zealand diversified portfolios, resulting in one senior redundancy across the Tasman.

Jason Wong had joined AMP CI’s Kiwi business two years ago as head of investment strategy, assembling the multi-asset class funds which comprise NZ$2.5 billion of the manager’s NZ$11 billion under management in the country.

However the manager has decided it would be more efficient to consolidate asset allocation and investment strategy work in the Sydney-based team of chief economist Shane Oliver, which in turn sits within the Multi Asset Group under David Kiddie.

Implementation of the NZ diversified portfolios will also be shifted across the Tasman, to the investment operations team under Peter Sipek. Wong will stay at AMP CI until the end of September to oversee the transition.

Meanewhile, Lydia Hwang, currently an investment analyst in the NZ business will become an investment strategist and transfer into Shane Oliver’s team over the next month.

Also as a result of the changes ,there will be a new investment specialist position vacant in NZ, and the recruitment process is already underway.