MONEY MANAGEMENT

AMP Capital promotes 3 to lead equities, fixed income, Asia-Pacific

AMP Capital announced three promotions on Wednesday, while disclosing its chief investment officer of global equities and fixed income will leave the firm.

Craig Keary, AMP Capital's director of Australia and New Zealand, was named director, Asia-Pacific, adding oversight of the firm's operations in Beijing, Hong Kong and Tokyo to his responsibilities. The expanded role is a new one at AMP.

Simon Warner, the firm's Sydney-based head of global fixed income, will be elevated to global CIO for fixed income, while David Allen, London-based global head of equities, will become global CIO for equities.

Messrs. Warner and Allen will report directly to CEO Adam Tindall. In a Wednesday news release, Mr. Tindall noted a commitment to take on “more direct responsibility” for those key asset classes.

As a result of the changes, Mark Beardow, current CIO of global equities and fixed income, will leave the firm as his position is being eliminated, the news release said. Mr. Beardow couldn't immediately be reached for comment.

An AMP spokeswoman confirmed Mr. Keary will relocate to Asia but said a precise location has yet to be made. He is taking on oversight of AMP's business in Asia from Anthony Fasso, who has spent more than 20 years in the region and will return to Australia, the spokeswoman said. Mr. Fasso will retain responsibilities as AMP's global head of portfolio strategies as well as continuing to focus on “opportunities to accelerate AMP Capital's growth through targeted mergers and acquisitions,” according to the news release.

Mr. Fasso will continue to report directly to Mr. Tindall.