ANZ Bank New Zealand's chief investment officer Graham Ansell will step down at the end of April, to be replaced temporarily by Paul Huxford.
Ansell has worked at ANZ for 22 years, formerly as the company's general manager of investment management, and has been in the CIO role for five years. ANZ has begun a search for a new CIO including both internal and external candidates, it said.
"After five years as chief investment officer this is a natural time for him to be thinking about his next opportunity," said ANZ managing director of wealth Craig Mullholland. "I wish him every success in the future."
Huxford will join ANZ next month "enabling him to work with Mr Ansell on a smooth handover", the bank said. Huxford was JP Morgan's managing director for Europe, Middle East and Africa Equities Research for seven years until January 2015, having previously been a director at Macquarie Group, and has most recently been working as an independent advisor, according to his LinkedIn.
The bank's shares recently traded at $28.80, down 0.9 per cent today and 15 per cent lower than this time a year ago.
