BTIM CEO to retire

BT Investment Management (BTIM) has announced the retirement of chief executive officer, BTIM Australia, Michael Bargholz, effective 30 July 2018.

Bargholz joined BTIM in October 2016 and is responsible for the Australian arm of the BTIM Group including asset management, operations and sales & marketing.

He has over 26 years' experience in financial markets and leadership experience across a number of organisations. Prior to joining BTIM, he was managing director for Fidelity Investment Management Australia and was previously CEO and managing director Australia for AllianceBernstein and managing director for AXA Investment Management, New Zealand.

At BTIM he will be replaced by former First State Super CIO, Richard Brandweiner, who joins the firm in February. Brandweiner was most recently a Partner at LeapFrog Investments, a global impact investment firm.

Commenting on the succession, group chief executive officer, Emilio Gonzalez, said: "While we are disappointed to see Michael leave, I admire his leadership in setting the long-term strategy of the Australian business and respect his decision that now is the right time for him to hand over the reins."

"Michael leaves us with a very capable management team in place and well positioned to take advantage of future growth opportunities. We thank Michael for his contribution and wish him well in his retirement."

Bargholz added: "As I retire from full time executive work I am proud to have been part of an exciting and growing industry for more than 30 years having worked as CEO for some of Australia's leading investment firms including BTIM. I hand the reins with confidence to Richard Brandweiner to lead the growth in the BTIM Australian business."

Bargholz will serve his six month notice period, in line with his contract, from Monday 5 February where he will be on gardening leave. Gonzalez will work alongside Brandweiner to ensure a smooth transition.