Nicholas Good was named group CEO of Australian stock exchange-listed Pendal Group effective immediately, the Sydney-based money manager said.
Mr. Good replaced Emilio Gonzalez, who stepped down after 11 years as CEO. During his tenure the firm's assets under management rose to A$97.4 billion ($75.3 billion) from A$41.9 billion, helped by the 2011 acquisition of London-based JO Hambro Capital Management.
Mr. Gonzalez will take a break from the business while he considers his next steps, a Pendal spokeswoman said in an email. He will stay on at the firm for six months to ensure a smooth transition.
Mr. Good will run Pendal from Boston, where he was CEO of JO Hambro Capital Management's operations in the U.S., according to a Pendal news release.
Mr. Good has not made a decision on whether to name a replacement for JO Hambro's U.S. operations, but as the group believes the U.S. market offers the biggest opportunities, he is likely to do so, the spokeswoman said.
