First Sentier Investors chief executive steps down

First Sentier Investors has confirmed its chief executive is leaving at the end of the year.

After seven years with First Sentier Investors, Mark Steinberg has announced he plans to step down.

Confirming the news, a First Sentier spokesperson said: "To ensure a seamless transition, a comprehensive search for his successor has commenced."

"The selection process will include both internal and external candidates, as we aim to find the most suitable individual to lead the business into its next phase of growth and success."

Steinberg first took over as chief executive in an interim capacity in 2018 when Mark Lazberger departed after 10 years in the role.

The business was still known as Colonial First State Global Asset Management (CFSGAM) then but was later rebranded to First Sentier Investors following its acquisition by Mitsubishi UFJ Trust and Banking Corporation in 2019. At that time, Steinberg was permanently named in the lead role.

Steinberg had rejoined the business in late 2017 to assist with the strategic review that resulted in the sale. He had been away for five years working at Cover-More Group, including as the Asia Pacific chief executive.

Between January 2008 and January 2015 he served as chief financial officer, first for CFSGAM and then for Colonial First State and Commonwealth Bank's wealth management business.