Zenith Investment Partners has seen the loss of yet another senior staff member with the exit of its head of portfolio solutions Steven Tang after 17 years with the firm.
Starting out as an investment analyst at Zenith in 2008, Tang worked his way up through the business, taking on a series of roles including head of income team, senior investment consultant, and finally head of portfolio solutions in 2019 where he spent six years in the role.
The research house has seen a number of senior exits in recent months including managing director Jason Huddy, co-founder David Wright, founding partner Ben Davis and business development head Berit Deagan.
Both Wright and Davis spent more than 20 years at the business, while Huddy and Deagan worked at the firm for around five years.
While Tang is yet to publicly announce his commencement in a new position, he will be replaced by Andrew Yap just a few short months after Yap took on the role of deputy head of portfolio solutions in July.
Having spent 13 years with Zenith, Yap has worked his way up from senior investment analyst in 2012 to head of income and multi-asset in 2015, and then head of multi-asset and Australian fixed income in 2018 where he stayed until his recent promotion.
Prior to his time with the firm, Yap held a number of positions across financial services, from senior research manager at Pitcher Partners where he spent almost a decade, to head of multi-asset and associate director for Standard & Poor’s, as well as more than six years at Monash University as an industry fellow and lecturer.
Taking on this new position, Yap will now be responsible for leading the firm’s team of 12 where he will oversee the consultation and delivery of portfolio solutions for clients, reporting to investment director Damien Hennessy. Hennessy was appointed to this role in July, having previously worked as head of asset allocation and strategy since March 2021.
Speaking on the latest appointment, Zenith general manager and group head of product and data, Matthew Warren, said Yap’s deep knowledge of the investment landscape, the firm and its clients, means he is well-positioned to lead the portfolio solutions team.
“During his 10 years with Zenith, [Yap] has consistently demonstrated the ability to unite and inspire teams, add value to our research and portfolio capabilities, and deliver innovative solutions that meet the evolving needs of advisers and investors. His leadership will ensure we continue to deliver exceptional outcomes for clients.”
