New funds management boss at BNZ
More senior personnel changes have been made at the Bank of New Zealand's funds management operationsn
Wednesday, April 22nd 1998, 12:00AM
More senior personnel changes have been made at the Bank of New Zealand's funds management operations.As reported earlier David Jones, who is the general manager of BNZ's financial services group, is being transferred to Australia to take up a position with BNZ's parent company, National Australia Bank.
In his new position Jones will head NAB's private banking operations. It is unknown when he will start in the new job.
BNZ has named Mark Tume as the head of Bank of New Zealand's funds management operation and Anthony Thyne has been promoted to chief investment officer.
Jones says, in a statement, that the changes were made in response to growth in the bank's funds management operations.
He says BNZ has almost doubled its funds under management over the past two years, and it now manages about $1.5 billion.
"With this growth - and projections of continued strong growth - it is no longer possible for one person to manage the investment specialisation as well as the broader funds management operation."
Tume, 37, has spent four years within BNZ's wholesale banking division as head of balance sheet management and risk control.
Jones says Tume's experience in wholesale banking would help increase the links between the funds management side of the BNZ's business and those of wholesale and business banking.
BNZ has also increased its team of portfolio managers and research analysts.
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