UK - Charlie Metcalfe, the former deputy chief executive at Hermes Pensions management, has been named as CEO of First State Investments.

First State is the international operation of Colonial First State Global Asset Management, the asset management business of the Commonwealth Bank of Australia. 

Colonial First State is Australia's largest fund manager with more than £49bn in assets under management.

"I am delighted to welcome Mr Metcalfe to this important role within our global fund management business," said Colonial First State CEO Warwick Negus.

He added: "Mr Metcalfe brings more than 20 years' financial experience to his new role, having previously worked in the asset management divisions for such global companies as Goldman Sachs, Merrill Lynch and prior to that as an investment banker at JP Morgan.

"He also had some entrepreneurial experience running a small private equity backed business in 2001/2. His extensive experience in product development, sales and distribution, marketing and corporate transactions will be of enormous value to the continued development of our First State Investments business."   

Metcalfe left Hermes, which is owned by the BT Pension Scheme, in the wake of the arrival of new CEO Mark Anson at the start of the year.

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