Former HSBC Asset Management head Barry Sheehan has been appointed chief executive officer of Tyndall Asset Management ending industry speculation on a replacement for Michael Good at the Promina-owned fund manager.
Sheehan will officially take over the reigns on March 14.
Good announced his intention to retire as Tyndall chief executive at the end of last year, after nearly seven years in the role, but agreed to stay on until a replacement was appointed.
Sheehan departed HSBCAM following Challenger’s $21.9 million purchase of HSBCAM last March, along with its chief operating officer Stuart Nixon and chief investment officer Jon Taylor.
Prior to joining HSBC, he was head of retail funds management at IOOF during its transition from focusing on friendly society services to funds management.
Relocating from Melbourne to Sydney to take up the position, he will be responsible for all aspects of Tyndall operations in Australia and New Zealand.
Announcing Sheehan’s appointment, Promina chief executive financial services Dennis Fox said Sheehan was an ideal replacement for Good, having “wide experience in asset management businesses, particularly his strong retail involvement, coupled with his superior track record”.
Fox also expressed gratitude for Good’s decision to stay on until a “suitably qualified replacement could be found who was qualified to lead Tyndall in the next phase of its development, thus ensuring a smooth transition”.
Good joined Tyndall in NZ in 1993 after extensive investment experience in both the Australian and New Zealand markets.
He became CEO of Tyndall (Australia and New Zealand) in 1999 and retires after 40 years in the financial services industry including 30 years as an investment manager.
