CFS hires former MLC CIO

Colonial First State has hired former MLC chief investment officer Jonathan Armitage as investment chief.

Armitage left MLC last month after Insignia Financial - formerly IOOF Holdings - combined its investment management teams after buying MLC Wealth and installed Dan Farmer as investment head,

CFS superannuation chief executive Kelly Power said Armitage has a strong reputation as a leader in asset management, and his appointment means CFS is well-positioned to further improve product performance and deliver the best outcomes for members.

"Jonathan has a breadth of experience in Australia and globally, including directly running investment portfolios,' said Power.

"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.

"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."

CFS also announced its general manager of investments Scott Tully would depart the firm after 30 years.

Power acknowledged his contribution to the fund.

"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."

Armitage joined MLC in August 2011 as head of global equities before being appointed chief investment officer in March 2013.