CFS appoints new CIO

Jonathan Armitage has been appointed as chief investment officer of Colonial First State (CFS).

With almost 30 years of global experience and having worked in Australia, the UK and the US, CFS said Mr Armitage is a highly regarded investment executive with a strong reputation as a leader in asset management. 

CFS chief executive of superannuation, Kelly Power, commented that CFS is “pleased to have Jonathan on board,” and that his strong skill set, experience in global asset management, and his general track record of success will help CFS “deliver market-leading investment performance for members in the future”.

“Jonathan’s appointment further strengthens our investments team capabilities and, with other changes we have made, is helping to make CFS one of the most competitive retail superannuation and investments businesses in Australia,” Ms Power said. 

Previously, Mr Armitage worked as chief investment officer and general manager of asset management at MLC, where his responsibilities included managing fixed income, multi-asset diversified funds, private equity and alternative capabilities. 

He originally joined the insurer as head of global equities in August 2011, before taking on head of equities in December the same year. He was appointed as chief investment officer in March 2013. Before his tenure at MLC, Mr Armitage spent 20 years at Schroders, holding the positions of head of US equities and deputy head of global equities. 

Mr Armitage will commence with his new role in August replacing Scott Tully, who resigned from CFS after 30 years of service. 

“We greatly appreciate Scott’s contribution to CFS over many years, the way he has led his teams, and his commitment to our members. We wish him all the very best for the future,” Ms Power said.

CFS previously announced that it was investing $430 million across its business over the next four years and appointed FNZ to begin a major revamp of its wrap business in February.

Jon Bragg

Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.