MLC appoints Nicky Richards as Chief Investment Officer
MLC today announced the appointment of Nicky Richards as Chief Investment Officer (CIO) following an extensive international search.
Ms Richards has more than 20 years experience in global investment markets in Australia, Europe, Asia and the United States.
She joins MLC after her previous role as Group Chief Investment Officer at Fidelity International based in London.
As MLC Chief Investment Officer, Ms Richards will lead MLC’s team of investment professionals and will be responsible for more than A$65 billion in funds under management. She will officially take up the role in January 2011 but will work closely with MLC over the coming months.
MLC’s Executive General Manager of Asset Management Garry Mulcahy said, “We are extremely pleased to have recruited such a strong investment leader as our CIO.
“To have attracted someone of Ms Richards’ international calibre reflects MLC’s position as a global leader in multi manager investing, and it is a great endorsement of our investment philosophy and the MLC brand,” Mr Mulcahy said.
Ms Richards said of her decision to join MLC, “I have known MLC since 2000 when I last worked in Australia and I have a high regard for the company and what it has achieved.
“It is clear that NAB is committed to wealth management and has serious ambitions to develop it further over the coming years. I am looking forward to playing a role in the successful execution of that strategy.
“The Australian investment marketplace is vibrant and highly sophisticated. Australia has developed into a world leader in wealth management due to the compulsory superannuation system and, with the country’s pool of assets under management set to grow, Australia will provide a stimulating working environment over the coming years.”
Ms Richards is an experienced global investment professional with an outstanding career spanning both investment research and leadership roles across a number of continents. Her previous roles include:
- Group Chief Investment Officer – Fidelity International
- Global Head of Investment Product Strategy – Schroder Investment Management
- Managing Director – Schroders Hong Kong
- Managing Director – Schroders Australia
- Head of Global Research – Schroder Investment Management
- Head of UK Research – Schroder Investment Management
- Head of Research for Singapore & Malaysia – Schroder Investment Management
Ms Richards holds a BA (Hons) Economics and History and is an Associate of the Society of Investment Professionals.
Dr Susan Gosling, who joined the MLC team in 2002, has been acting in the role of CIO in addition to her role as Head of Capital Markets Research.
Mr Mulcahy said, “Susan has done a tremendous job managing two challenging roles. This has been a particularly positive period for MLC. Not only have we delivered strong investment performance, but we have strengthened the investment team with a number of new experienced hires.
“Susan has been an important member of the investment team for some time. She was responsible for introducing MLC’s highly-regarded scenarios approach to asset allocation and for introducing the successful Strategic Overlay asset allocation process across our diversified funds. She will continue to play a key role in the evolution of our investment approach and our future success,” he said.
Ms Richards’ appointment is the third in a series of recent hires of talented and well-regarded investment professionals to MLC.
In July this year MLC appointed the 24 year investment management veteran Michael Karagianis from UBS as an Investment Strategist, and Stefano Cavaglia as Alternatives Portfolio Manager. Stefano has more than 18 years of investment management expertise and previously worked in senior roles at UBS O’Connor and at PanAgora Asset Management.
Mr Mulcahy said, “The recruitment of Michael, Stefano and now Nicky, complements our already strong team of 30 investment professionals with combined industry experience of almost 450 years, and reinforces MLC’s investment management capability to deal with the significant growth opportunities ahead.”
“We are committed to developing our asset management business, both in multi manager funds and direct asset management, and attracting quality investment talent is the key to successfully achieving that objective.”
