Changes to AMP Henderson Investment Team

9 December 2002

Media Release

Changes to AMP Henderson Investment Team

New Zealand’s largest fund manager, AMP Henderson Global Investors, has appointed a new chief investment officer (CIO), Paul Dyer.

In announcing the appointment, AMP Henderson managing director Catherine Savage said Mr Dyer would oversee the domestic fixed interest and equities operations, while retaining responsibility for strategic and tactical asset allocation.

“Paul will focus on the integrity of the investment process and delivering the highest quality investment outcomes,” she said.

The CIO position was previously held by Chris Wozniak, who will take up a senior role within Henderson Global Investors in the United Kingdom. Mr Wozniak will become director of global asset allocation within the fixed interest team, retaining a strong relationship with the New Zealand operation.

Tore Hayward has also been appointed, to a new position of fixed interest strategist. Tore was formerly foreign reserves manager with the Reserve Bank of New Zealand. He brings with him considerable experience in funds management and investment banking.

Mr Hayward’s appointment will strengthen what is already a well-respected fixed interest team, comprising Grant Hassell, Peter Scobie and Vicky Hyde-Smith. The team’s primary focus will continue to be duration management, while the additional resource expands its investment and credit research capabilities.

Ends.
Attached - biographies

Biography – Paul Dyer

Paul is the chief investment officer for AMP Henderson Global Investors in New Zealand.

As CIO, Paul will oversee the domestic fixed interest and equities operations, while retaining responsibility for strategic and tactical asset allocation. He will focus on the integrity of the investment process and maintaining the highest quality investment outcomes. Paul is also a director of the global strategy team.

He was previously head of the Investment Strategy and Economic Unit, responsible for investment strategy advice, macroeconomic research, investment valuation and risk analysis, and forecasting.

Paul has been with AMP Henderson for seven years. He is a member of both the Investment Advisory Committee and the Asset Allocation Audit Committee and is responsible for making key investment strategy recommendations.

He was previously Director, Strategy at SBC Warburg (Australia) and has held positions as Chief Economist with Buttle Wilson, and economist with the New Zealand Treasury.

Paul received his Masters in Social Sciences from Waikato University, majoring in economics.

Biography – Tore Hayward

Tore is the fixed interest strategist within the Fixed Interest team of AMP Henderson Global Investors in New Zealand.

The team manages a large portfolio of domestic fixed interest and cash assets. Tore’s appointment will expand its investment and credit research capabilities.

He has gained considerable experience during his 15 years in the industry. Tore was previously foreign reserves manager with the Reserve Bank of New Zealand. He was head of a team responsible for managing a portfolio of NZ$4.5 billion.

He has also held senior roles in other large institutions, including ANZ Asset Management, Tower Asset Management, ACC and Fay Richwhite.

Tore has a first class honours degree in Economics, a Bachelor of Arts majoring in Economics and Mathematics and a Bachelor of Science, majoring in Physics.

ENDS

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