Tuesday 16th March 2010
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Fidelity Life has appointed Chris Lynch to the newly created role of investment operations manager which will see him sit as a full member of the company's investment management committee.
Lynch will primarily be responsible for preparing the life insurance and investment company for the introduction of the new life insurance taxation regime which comes into play on July 1.
He will also assist with the launch of the company's life fund Portfolio Investment Entity (PIE) in 2011.
Lynch joins Fidelity Life with more than 15 years investment industry experience, including 10 years at Tyndall Investment Management as a senior manager.
His extensive experience in fund accounting, client reporting and compliance places him in an ideal position to assist the company with the many changes it faces in life insurance tax. He is also an Associate Chartered Accountant.
Fidelity Life chief executive Milton Jennings says the role of Investment Operations Manager has been established to help transition Fidelity's life investment products into this year's new tax regime.
"The introduction of the new legislation will see a complete overhaul of how investment products are structured and will involve new unit-pricing and compliance systems.
"As well as the implementation of these new systems, all companies will be required to show how the income from investment products has been accounted for in the past.
"We are fortunate to have someone of Chris' calibre to assist us with the successful implementation of mandated compliance from a business perspective," says Jennings.
Lynch's fund management experience and knowledge of the New Zealand industry will also be well utilised within his role as Fidelity Life prepares to launch its life fund PIE next year.
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