AustralianUnity director and head of funds management John Linehan is set to leave the group in mid-September.
Managing director of the Melbourne-based investment business Rohan Mead says the group is close to finalising a replacement for Linehan.
“At this stage I cannot say anything further as there are still a few points to clear up before we can make an announcement, which will be early next week, he says.
As for Linehan, he has not signalled his immediate plans beyond saying he “wanted to explore other challenges”.
Mead, who took over as head of Australian Unity on July 1, says the structure of the funds management operation will not change as a result of Linehan’s departure.
“The general tone of the business stays the same with the same broad strategic direction remaining in place together with the same focus and expertise,” he says.
Linehan joined Australian Unity in 2002 from superannuation fund HostPlus.
During Linehan’s stint at the fund manager its funds under management have grown from $1.6 billion to $2.3 billion.
“Australian Unity Funds Management has experienced its greatest period of organic growth with sales of $460 million during the recent financial year,” he says.
