TOWER moves all asset managers to Auckland
TOWER asset managers in Wellington have had their positions disestablished as the company has decided to move all asset managers to head office in Auckland.
Thursday, September 16th 2010, 11:32AM
by Jenha White
TOWER investments chief executive Sam Stubbs says there has been a split asset management team between Wellington and Auckland for over two and a half years.
"The board has decided to move all asset managers to the head office in Auckland because it's the same team managing both shareholder funds and client money."
He says because the change requires moving cities, the Wellington asset manager positions have been disestablished.
"So we need to advertise both internally and externally and it's unknown as to how many asset managers will move.
"We'll know that when we see the applications close at the end of next week."
Stubbs says otherwise the management style will remain exactly the same with nothing changing in terms of how TOWER manages money.
Jenha is a TPL staff reporter. jenha@tarawera.co.nz
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