First State Investments (First State) announced the promotion of Global Resources portfolio manager, Todd Warren, to head of Global Resources, effective 1 July 2017.
Warren succeeds Joanne Warner, who will retire from funds management in August 2017 after 20 years as portfolio manager within the Global Resources team. Warner will continue to support the team until this time to ensure an effective transition.
With over 15 years’ experience in global resources investment at First State, Sydney-based Warren is ideally placed to take forward First State’s Global Resources investment philosophy and culture. As well as leading the team, he will assume the role of lead portfolio manager of the Australian domiciled CFS Global Resources Fund.
In addition, London based Tal Lomnitzer, who has 19 years’ investment experience within the resources and commodities sector, will become deputy head of Global Resources. Lomnitzer will have lead portfolio management responsibilities for our UK and European client Global Resources portfolios (including those within First State’s UK OEIC and Irish VCC fund ranges) having been deputy portfolio manager to Warner since 2011. He will also act as deputy portfolio manager on the Australian domiciled fund, and Warren will act as deputy for our UK and European client Global Resources portfolios.
“This is the culmination of a long-standing succession plan, carefully mapped out by Joanne and the team, to ensure the team is best placed to successfully manage their portfolios and continue to generate attractive returns for clients post the leadership succession.” said First State’s managing director, EMEA, Chris Turpin.
“Warner has been an outstanding leader of our Global Resources business since 2010 and will soon celebrate both the team’s 20th anniversary as well as her own 20 years as a Global Resources portfolio manager with the business.”