Published by Asian Investors – 28th Sep 2018
Mark Lazberger has decided to step down as chief executive of Australian fund house Colonial First State Global Asset Management after 10 years in the role.
Sydney based Lazberger announced his decision on September 20, and his last official day will be December 17, a CFSGAM spokeswomen said.
Mark Steinberg, Sydneyy based chief operation officer, will be acting chief executive while CFSGAM searches for a permanent CEO.
Lazberger’s departure follows Commonwealth Bank of Australia’s June announcement that it would demerge its CFSGAM, Colonial First State, Count Financial, Financial Wisdom and Aussie Home Loans businesses and combine them to create independent wealth manager CFS Group. The bank expects the demerger to be completed in 2019, subject to final CBA board, shareholder, and regulatory approvals.
