Colonial First State appoints CIO

Colonial Frist State (CFS) has appointed Jonathan Armitage as chief investment officer, replacing Scott Tulley who leaves the firm after three decades.

Armitage had nearly 30 years of experience working across roles in Australia, the UK and US and was most recently CIO and general manager of asset management at MLC.

There his responsibilities included managing multi-asset diversified funds, fixed income, private equity and alternative capabilities. He joined MLC in August 2011 as head of global equities, before becoming head of equities in December 2011 and being appointed CIO in March 2013.

Prior to MLC, Jonathan spent 20 years at Schroders, where he held roles including head of US equities and deputy head of global equities.

CFS Superannuation chief executive, Kelly Power, said: “We are pleased to have Jonathan on board. Jonathan has a breadth of experience in Australia and globally including directly running investment portfolios. His strong skill set, global asset management experience, and track record of success, will help us to deliver market leading investment performance for members in the future.

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“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.”

After more than 30 years with CFS, outgoing head of investments, Scott Tully said he felt that the time was right to pursue the next phase of his career outside of CFS.

Power said: “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.”