Mark Rider has been appointed as ANZ's new chief investment officer for the bank's wealth division, effective from 10 March 2017.
Mr Rider joined ANZ in 2013 as head of investment strategy and asset allocation where he has been responsible for the management of ANZ’s $30 billion multi-asset funds in Australia and New Zealand, the statement said.
Prior to joining ANZ, Mr Rider spent 16 years at UBS in senior economics and global asset management roles, before which he was an economist at the Reserve Bank of Australia for 10 years.
As chief investment officer, Mr Rider will be responsible for delivering the overarching investment strategy, including asset allocation, investment themes, product selection and monitoring, ANZ said.
ANZ group executive, wealth Australia Alexis George said, “Mark is a proven investment manager with significant economic experience who is already well known to our partners and customers.
“It’s pleasing to be able to appoint an executive with such strong credentials from within the business, which will help ensure a smooth transition and a consistent approach to investment strategy.”
Mr Rider succeeds Stewart Brentnall, who is leaving ANZ to take up the chief investment officer role at TCorp.
[Related: Major bank appoints chief data officer]