ANZ appoints ex-RBA economist as CIO

14-Feb-2017

By Leanne Abbas

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ANZ has announced the appointment of former Reserve Bank of Australia (RBA) head of economics Mark Rider as the chief investment officer of its wealth arm.

Rider, who has been with ANZ since 2013, has taken on a number of senior roles in his 30-year career in financial services, including chief economist and head of investment strategy for Australia at UBS Global Asset Management.

He has most recently been the bank’s head of investment strategy and asset allocation, with responsibility for the management of its $30 billion multi-asset funds in Australia and New Zealand.

In his new role, which will commence on 10 March, he will take charge of delivering investment strategy, including asset allocation, investment themes, product selection and monitoring for ANZ’s wealth division.

ANZ group executive for wealth in Australia Alexis George welcomed Rider to the role in what she said would be a seamless transition for the industry veteran.

“Mark is a proven investment manager with significant economic experience who is already well known to our partners and customers,” George said.

“It’s pleasing to be able to appoint an executive with such strong credentials from within the business, which will help ensure a smooth transition and a consistent approach to investment strategy.”

Rider was offered the position following the decision of his successor, Stewart Brentnall, to take up another senior chief investment officer opportunity in the Australian industry.

Brentnall was with ANZ in the role for seven years.

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