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Fund manager Brook Asset Management has appointed Mark Brighouse, formerly of Arcus Investment, to be its first managing director.
Brook, which is fronted by high-profile fund managers Paul Glass and Simon Botherway, created the role to oversee expansion of the business following the KiwiSaver scheme and the introduction of the Portfolio Investment Entity tax changes - expected to provide a big boost to the managed funds sector.
Brook is also setting up operations in Australia.
Brighouse will be responsible for setting strategy and the operational side of the business, Glass said.
In his role as chief investment officer at Arcus - the investment arm of AXA New Zealand - Brighouse had responsibility for more than $5 billion of New Zealand client funds.
Botherway and Glass and the other senior staff members would remain focused on the investment side of the business.
