Nikko boss to return to the UK

Nikko Asset Management is set to get a new managing director, with incumbent George Carter returning to the UK.

Wednesday, February 8th 2023, 10:00AM

Carter's departure sees a shake up in the team at Nikko with Stuart Williams stepping ups to become managing director and country head.

As a result of this move Michael Sherrock becomes the co-head of New Zealand equities, initially alongside Williams, and Sam Bryden becomes head of distribution – a position vacated by James Wesley, who is relocating to New York where he has been asked to take up the newly created role of deputy chief executive of Nikko AM Americas.

Carter and Wesley will stay in their roles until the end of March.

Carter has decided to return to the UK to pursue a range of business and social interests. Since joining in 2015 Nikko has grown its number of staff by 50%, and its asset under management by nearly 70%. Also the company launched its KiwiSaver offering.

Over the past few months Carter has worked closely with the senior leadership team to develop a seamless transition plan that preserves the team’s growth momentum.

Williams has headed up the Nikko AM NZ Equities team since 2014 and has 27 years’ experience across all aspects of the asset management industry. He says the management moves reflect not only the expertise within the local business, but the implementation of an established succession plan.

“George has provided outstanding leadership to the New Zealand business for the last eight years, during which time we’ve evolved to support retail as well as institutional investor clients with a wide range of funds, services and KiwiSaver products.

"The investment we’ve made in our people over this time means that we already had the outstanding candidates to step up into leadership roles, and I look forward to overseeing a smooth transition and continued growth in line with Nikko AM’s global strategy.”

“On behalf of the entire team and our clients and stakeholders, I’d like to thank George for the platform he has laid for us and wish him and his family well for their new start back in the UK.”

Underlying the seamlessness of the transition, new co-head of NZ Equities, Michael Sherrock, has been with the company for 17 years and has worked closely with Williams for the last eight of these.

Similarly, while James Wesley’s promotion and transfer to New York reflects the significant contribution he has made to the New Zealand business, Williams says Sam Bryden’s intimate knowledge of Nikko AM’s products and extensive relationship network means he is uniquely well-positioned to lead the distribution team and drive the next phase of Nikko AM NZ’s growth strategy.

Recruitment for the senior relationship manager role is already underway.

Nikko AM President, Stefanie Drews, says the key appointments ensure that both the New Zealand and Americas teams are well-positioned to contribute to the global growth strategy.

“Stuart brings deep understanding and experience in New Zealand. The trust and relationships he has built with his colleagues and stakeholders have prepared him to pick up the mantle from George and take our business to the next level – and with Sam’s knowledge and connections, our New Zealand Business Development remains in good hands. At the same time, James’ move to our Americas business will give the team there fresh insight and additional leadership in this key market.”

Tags: Active v Passive Nikko AM