Burke jumps ship
Former Deutsche Funds Management investment director Gary Burke has joined Zurich Scudder Investments (ZSI) to take on the newly created role of Australian head of investments.
Burke has become the fifteenth investment boss to join the funds management musical chairs in the past year, according to research data from van Eyk Research. Other funds management luminaries to change employers include AMP Australian Equities boss Marcus Fanning who moved to BT Funds Management and former Perpetual chief investment officer Rodney Green left the group to be replaced by Emilio Gonzalez.
Prior to joining Deutsche, Burke was Rothschild Australia Asset Management portfolio manager and then head of portfolio management. He has also held a senior research position with Assirt.
The new position within ZSI means a restructuring of the previous management team of interim chief investment officer Paul Spence and interim ZSI Global equity group managing director Nick Bratt, according to a recently released update report from research house Morningstar.
Spence and Bratt began their roles after Zurich dissolved its Australian chief investment operator role when Michael Kenyon departed the position in March this year. According to the Morningstar report, Spence is expected to take on the post of Zurich senior quantative head for the Asia-Pacific region.
The Morningstar report has also confirmed the retention of a four star rating for Zurich and its funds, but the research house says it will continue to monitor the group and will be meeting with Burke to access and analyse the changes on Zurich’s business and investment operations.
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
