Macquarie lands new investment chief for wealth division

Detailed summary

Macquarie Group has named the chief investment officer for its wealth management business, following the departure of the former incumbent.

Macquarie Group has named the chief investment officer for its wealth management business, following the departure of the former incumbent.

David Carruthers has been appointed to the role, elevating him from head of fixed income, a role he held since joining the business division three years ago.

In his new position, Carruthers will lead its investment strategy and governance teams which comprise more than 30 investment professionals.

Prior to joining Macquarie in 2023, Carruthers spent over 14 years at AMP Capital, serving in senior roles including head of credit and core and head of credit portfolio management. He also brings expertise from AMP Henderson Global Investors, GIO Asset Management and Westpac Institutional Banking Corporation across a nearly 30-year career in financial services.

The appointment follows the departure of former chief investment officer Paul Huxford to New Zealand's Fisher Funds Management this month. Huxford served in the role for close to three years.

"We're delighted that David has been appointed chief investment officer," a Macquarie spokesperson said.

"His elevation to the role is a testament to the depth of expertise within our investment strategy and governance teams, with David bringing to his new role nearly three decades of experience and leadership in financial markets.

"It's from this position of real experience and insight, that our teams provide clients with tailored strategies to help them build enduring wealth."

Last week, the group bid farewell to its chief executive Shemara Wikramanayake after nearly 40 years with the organisation.

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