AMP investment chief heads for job at super fund

By PAULA OLIVER


The man who has headed AMP Capital's investment team for just over a year has decided to leave and take up a new role with what is popularly known as the Cullen fund.

Paul Dyer, a former Treasury economist who has been at AMP for eight years, will become chief investment officer - investment strategy, at the Superannuation Fund. The job means a shift to Auckland for the previously Wellington-based Dyer.

Yesterday he described the change as an exciting challenge, saying he welcomed the chance to focus on long-term investment strategy with "such an important enterprise".

Dyer's focus will be on identifying strategies that will bring the highest returns while avoiding "undue risk".

His departure means AMP's investment arm has another new chief - Tore Hayward, a former head of foreign reserves at the Reserve Bank, takes over on April 5.

Hayward has been promoted internally from his year-long role as a strategist looking at local fixed-interest offerings.

Leo Krippner, who has also been a part of the foreign reserves team at the Reserve Bank, will take up the fixed-interest role.

The latest round of musical chairs is nothing new at AMP's investment arm, which manages about $10 billion of assets.

Dyer was appointed chief investment officer in December 2002 after the departure of Chris Wozniak, who became chief investment officer in May 2001 as part of a restructuring that cost the job of high-profile fund manager Stephen Walker.

Dyer takes up his new role on April 19.