Macquarie Funds Managementhas made an internal appointment to fill the gap left by former international division head, Ben Bruck, who became head of the group following David Deverall’s move toPerpetual Trusteeslast month.
Division director David Craig takes on responsibility of heading up the group’s international division and will oversee its three joint venture businesses in Malaysia, Korea and Taiwan.
Craig will relocate to Sydney from Seoul in Korea, where he has spent the past three years establishing the funds management joint venture company Macquarie-IMM Investment Management, which has raised over $3.3 billion in this period.
Craig joined Macquarie Funds Management in 1994 as an actuary forMacquarie Life, with responsibility for life insurance product development strategy.
In 1996 he became responsible for product development and management of all the group’s retail products and was responsible for launching a variety of insurance products and investment trusts.
Total funds managed by Macquarie’s Asian joint ventures have risen $6.6 billion since the first joint venture was established in Malaysia in 1996.
“We will continue to grow by focusing on building strong businesses with selected local partners,” Craig says.
