Royal And Sunalliance Group New Appointment

MEDIACOM-RELEASE-ROYAL-&-SUNALLIANCE

ROYAL AND SUNALLIANCE GROUP ENSURES GROWTH WITH SIGNIFICANT NEW APPOINTMENT

New Zealand's third largest funds manager, the Royal & SunAlliance Group, has developed a bold growth strategy to double its funds under management and become a world-class funds management business.

The company has just announced the key appointment of Anthony Quirk as chief investment manager to spearhead its drive to meet a number of ambitious goals.

Royal & SunAlliance combined its New Zealand funds management operations with New Zealand Guardian Trust, following its acquisition of Tyndall Australia, in June last year.

The company has $4.0 billion of funds under management, within Guardian Trust funds management, and Mr Quirk is keen to further grow its already very strong position in the New Zealand market.

He joins the company from ANZ Banking Group (New Zealand) Limited where he was general manager, ANZ Funds Management. Mr Quirk was appointed to that role in 1993 and during his time at ANZ the company more than quadrupled its funds under management. Before joining ANZ Mr Quirk was with Fay Richwhite Equities at Fay, Richwhite & Company Limited, where he was responsible for establishing a research department and then the ongoing management of the research team.

The appointment is Royal & SunAlliance's most significant in the past 18 months and was carefully considered to ensure the best skills available.

"Over the past year we have been laying the foundations to build a world class team," says Royal & SunAlliance chief executive Alan Bradley.

"Anthony is a very skilled and professional operator with a high level of technical funds management skills. He will bring a strong, dynamic leadership to the team and his appointment demonstrates our commitment to being world class."

Mr Quirk will be based in Auckland reporting to Rob Flannagan, Managing Director, Guardian Trust.

Mr Quirk takes over from Tim McGuinness who has been with the company for 29 years. Mr McGuinness has been responsible for integrating the Royal & Sun Alliance and Guardian Trust funds management teams and has chosen to remain in Wellington rather than relocate to Auckland with the new organisation.

ENDS....

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