Michael Blake appointed to run Centuria Life

Specialist investment manager Centuria Capital Group (ASX: CNI) today announced the appointment of Michael Blake to Head of Centuria Life. Centuria Life is the company’s investment bond business, with more than $850 million in funds under management.

Michael has been at Centuria since the beginning of 2016, serving as Head of Sales and Marketing. With three decades of experience in funds management, property and financial services to bring to the role, Michael has passion and a vision for the future of Centuria’s investment bonds business. He is committed to a growth strategy that aligns with the overarching strategy of Centuria Group as a whole.

In funds management since 1990, Michael’s knowledge of the financial services industry, and his relationships with key industry groups uniquely position him to grow the business.

John McBain, Group CEO, says of the appointment “We are incredibly fortunate to have an in-house candidate with the communications and market knowledge, and financial skills, to step into this role. Michael will build on the strong foundations for evolution and growth put into place by Neil Rogan, who has resigned after a successful three-and-a-half year tenure in the role.

“We have invested in building market understanding of the case for, and use of, bonds as a means of creating, transferring, and protecting wealth. Growth potential for the Investment Bonds market is solid, due in part to favourable tailwinds from market and policy changes such as the recent changes and limitations to superannuation.

“Michael has the specialised qualifications, experience, and skills to take this business into its next phase.

“We want to thank Neil for contribution to the business and its clients. Neil drove Centuria Life’s growth to make it Australia’s third largest player,[1] raise the profile of the product, and bring it up-to-date for a new generation of investors. Neil grew Centuria Life by over 22% during his time,[2] and played a significant role in educating the market on this product.”

Michael Blake has further commented, “It is with great excitement that I step into this role, and I look forward to further building the success of the business and helping more investors to understand and gain access to this unique product.

“I have great belief in this product as an accessible and reliable tool for all Australians to effectively conserve and grow their wealth and achieve their financial goals, and it is with relish that I look ahead to creating the next stage of Centuria Life’s 35-year journey in helping them do so. I think this product has an important and growing role in the market and I will continue to develop our offering to best serve our investors.”

Michael was previously Director of Cromwell Funds Management, Director of New Zealand based Oyster Property Group, Director of Phoenix Portfolios and a member of the Group’s Executive Management Committee. There he was responsible for growing and managing the funds management business and strategically presenting the product offering to a changing market. He also held senior management roles at HSBC Asset Management, Zurich and Mercantile Mutual.

[1] Based on Net FUM figures from Sep-14 to Dec-17.

[2] Ibid.