MLC Investment Management CIO departs
MLC Investment Management chief investment officer Nicky Richards is set to leave the company in October, with Jonathan Armitage to step in until a replacement is found.
Richards had decided to leave two years after joining MLC, during which time she reinvigorated the MLC Investment Management business, evolved its investment strategy and attracted investment talent, the company said.
"MLC thanks Nicky for her valued contribution and achievements during her time with the organisation and wishes her all the very best for the future," MLC stated.
Head of equities Jonathan Armitage will step in as CIO while MLC undertakes a global search for a replacement.
Armitage made a move to MLC Investment Management from Schroders in 2011 to head up its global and Australian equities strategies.
Meanwhile, research house Standard & Poor's has announced MLC fund ratings would remain unaffected by Richards' departure.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.