Read ANZ's statement below:
ANZ New Zealand today announced the appointment of Simon Botherway as General Manager, Investment Management for ANZ Wealth, effective early May 2011.
Managing Director ANZ Wealth, John Body said: “Simon is one of New Zealand’s most credible and accomplished leaders of managed funds investing and will be a real asset to the ANZ Wealth team and our clients.
“Simon will oversee ANZ Wealth’s investment strategy for wholesale and retail funds and will lead one of the strongest and most experienced investment teams in the country that are responsible for investing more than $12 billion of savings for individuals, employers, charities, local authorities and government.
“Simon’s appointment further strengthens the new management team we established since forming the bank’s wealth businesses across ANZ, The National Bank, and OnePath.
“We are seeing a new era emerge where New Zealanders are now more focused on saving and investing in productive assets. KiwiSaver has been a key part of this new attitude. Through OnePath, we are the award-winning and market-leading provider for KiwiSaver, responsible for managing the savings of more than 1 in 4 of the New Zealanders who are enrolled in a scheme.
“We are also at a crossroads in New Zealand from an investment perspective, with new capital markets regulation and a new regulator about to be launched. Simon, in his role as chairman of the Establishment Board of the Financial Markets Authority, has been closely involved in the restructuring of the regulation of capital markets” said Mr Body.
Mr Botherway was formerly Chief Executive and Executive Chairman of Brook Asset Management, a member of the Securities Commission, the Chairman of the Establishment Board of the Financial Markets Authority and as an independent director of Fisher and Paykel Appliances Holdings.
Commenting on his appointment Mr Botherway said: “This new role at ANZ Wealth offers me new horizons. ANZ is New Zealand’s largest bank and part of a regional banking group with operations in 32 markets across the Asia Pacific region. The opportunity to play a custodial role for the level of savings we manage was too good to pass up.
Mr Botherway will step down from his role as a director of F&P Appliances at the end of April. He will remain Chairman of the Financial Markets Authority Establishment Board until the Financial Markets Authority commences, which is expected to be in May of this year.