The axe falls at Kiwi Wealth

Fisher Funds has begun its rationalisation of Kiwi Wealth with key executives losing their jobs.

Those to go include former chief executive Rhiannon McKinnon, chief investment officer Steffan Berridge, chief technology officer Craig Ward and chief customer Officer Morne Redgard.

One executive to survive the cull is general counsel Vanessa Simons. Kiwi Wealth chief operating officer Craig Holloway survives the initial cull and "will be staying on to support the integration for a period of 12 months from Wellington."

Fisher Funds acquired Kiwi Wealth at the end of last year. It says, in a statement, "the first step of the integration is the establishment of a single leadership team under Fisher Funds chief executive Bruce McLachlan assuming responsibility for continued delivery of great outcomes for Kiwi Wealth and Fisher Funds clients."