TOWER Investments – Press Release
For immediate release
30 November 2010
TOWER appoints new investment managers
Default KiwiSaver provider TOWER Investments has announced a number of new investment manager appointments, as a strong
statement of the future growth prospects for TOWER and KiwiSaver.
“TOWER’s investment management team is now the largest in New Zealand, which is a measure of our commitment to further
expansion of TOWER’s growing investment business across KiwiSaver, personal superannuation, institutional asset
management, and retail funds management,” said Sam Stubbs, Chief Executive Officer of TOWER Investments.
“I am delighted with the calibre of our enlarged investment management team. We are optimistic about the long term
prospects for KiwiSaver and are ready for growth.”
“We have achieved a highly desirable combination of internal promotions and external appointments that will bring the
right mix of corporate culture, market experience and collective wisdom to our investment management team,” said Mr
Stubbs.
“TOWER’s longstanding commitment to the value philosophy of investing will continue, as will our conservative approach
to the financial markets,” said Mr Stubbs.
The following personnel have been confirmed as the investment managers of the TOWER Asset Management team, which reports
to Mr Stubbs:
Head of Fixed Interest – Craig Alexander (internal promotion, Wellington office)
Head of Equities – Richard Stubbs (external appointment, no relation to Sam Stubbs)
Head of Property – Brent Buchanan (as before, Auckland head office)
Fixed Interest Manager – Andrew Lance (internal promotion, Auckland head office)
Equities Manager – Stephen Bennie (external appointment)
Investment Analyst – Kennedy Mangana (internal promotion, Wellington office)
Investment Analyst – Gordon Sims (external appointment)
Institutional Manager and Strategic Asset Allocation Analyst – Jamie Young (external appointment)
By early 2011, TOWER Asset Management’s investment managers will all be located on Level 8 of TOWER’s head offices at
the TOWER Centre, 22 Fanshawe Street, in the Auckland CBD.
TOWER’s total funds under management are now NZ$4 billion and grew 8% in 2010. TOWER’s KiwiSaver funds under management
are now above NZ$500 million.
ENDS