Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Asb Group Forms $11.2 Billion Investment Funds Op

Asb Group Forms $11.2 Billion Investment Funds Operation

Statement made by Hugh Burrett, Managing Director, ASB Group

ASB Group has formed one of the country’s largest investment operations with retail funds under management of $4.3 billion and under administration of $6.9 billion, and appointed Mr Ross McEwan to head the operation.

The entities that are contributing investment funds to the new division are Sovereign, ASB Bank, AEGIS and Jacques Martin.

Ross McEwan, as Head Of Investments, will report to the Managing Director of ASB Group, Mr Hugh Burrett.

The rationale behind the new investment division is to provide a single entity to maintain business growth by consolidating the Group’s expertise within our various separate organisations to our customers’ advantage. This will include generating the best returns possible, managing risk profiles and sharing our research and development initiatives across the total product and service range.

We will continue to market and distribute retail funds under the Sovereign and ASB Bank brands, and each will have its own strong, distinctive products and services..

Information in relation to the funds of each of our operations will continue to remain confidential to them.

What is being combined is the back room functions that can be centralized, with a focus being placed on growth.

Ross McEwan has an impressive track record as a financial services manager, and his appointment will add leadership and strategic direction for what has become a significant area of business for the ASB Group.

Mr McEwan will be located at Sovereign’s North Shore City headquarters.

Mr Simon Swanson, Managing Director of Sovereign, will remain ASB Group’s representative on ISI ( the Investment Saving and Insurance Association ), an organisation he chairs.

Short biographical notes on Ross McEwan

Mr McEwan joins ASB Group from First NZ Capital Securities, where he was Managing Director.

Prior to this he was the Chief Executive of AXA New Zealand ( formerly National Mutual ) for more than five years, and with the organization for 16 years.

He is a Fellow of the NZ Institute of Management and Honorary Life Member of the Investment Savings and Insurance Association ( ISI ).

© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news