Investment manager

Investment manager Morrison & Co appoints third CEO in 33 years

Business

Paul Newfield, who joined Morrison & Co in 2008, has been appointed the new Managing Director of the investment banking from early 2022. Photo / supplied

Morrison & Co, the investment manager best known as the manager of the $ 5 billion infrastructure fund Infratil, announced that Paul Newfield would become its new chief executive in January, the third executive in its 33-year history.

Newfield, a New Zealander who has spent most of the last decade based in Sydney, replaces Marko Bogoievski, who resigns at the end of the year after 13 years.

Currently director of Morrison & Co for Australia and New Zealand, Newfield joined the Wellington-based investment manager in 2008.

Rob Morrison, president of Morrison & Co and brother of founder Lloyd Morrison, said Newfield has become a “great leader and a very successful investment professional. superior returns for investors seeking exposure to global infrastructure opportunities. “

Morrison said Bogoievski’s 13 years of “exceptional leadership” had provided exceptional returns for the investment manager and its investors.

“The hallmark of his strategy was the early recognition of emerging infrastructure themes and the conviction to invest in ideas that matter. He built an impressive management team and established the company as a global infrastructure investment manager, increasing funds under management by NZ $ 2.1 billion. in 2009 to NZ $ 21.5 billion today.

“After 33 years and just two CEOs, it’s time for a new leader to take the helm, bringing a fresh perspective to this role while preserving the goal-oriented and high-performance culture that is Morrison’s hallmark. & Co. “

Newfield led Morrison & Co’s expansion in Australia “by personally overseeing investments in sectors such as renewables and healthcare,” the company said in a statement.

He said his goal was to make Morrison & Co the world’s leading manager of infrastructure investments.

“Under Marko’s leadership, we have established teams in London, New York and Hong Kong, building on our strong foundations in Australasia. I will focus on growing this global platform to provide exceptional investment opportunities for our clients.

“Since moving to Sydney in 2010, we have made a number of significant investments for existing clients such as Infratil, and attracted over NZ $ 10 billion in new capital from Australian institutional investors. Our success in Australia is the model of our global strategy. . We will carefully combine our Morrison & Co DNA with top local talent in new regions and focus on sectors where we have leading expertise, such as renewable energy and digital infrastructure.

Bogoievski, who came to Morrison & Co from a management role at Telecom (which later split into Spark and Chorus), will continue to play a role within the organization. Earlier this year, he also stepped down as Managing Director of Infratil, replaced by Jason Boyes.

“Together with the board, I have worked to ensure a smooth leadership transition since last year,” Bogoievski said in a statement.

“I will continue as an operating partner, providing advice for investments in telecommunications and digital infrastructure. The board of directors has also asked me to continue to serve on the boards of directors of Vodafone NZ and Telstra. InfraCo Towers. Along with these roles, I will pursue my own personal investment interests. “


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