Gautam Tendulkar has resigned from his post as head of InvestmentLink to take a key role in the development of a wrap service seeking an imminent stock market listing.
Gautam Tendulkar has resigned from his post as head of InvestmentLink to take a key role in the development of a wrap service seeking an imminent stock market listing.
Tendulkar had been with InvestmentLink’s parent company, CPS Systems, for more than two years but left suddently about a month ago to take up with a group called Investor Cities.
Investor Cities is about to launch what it calls a “super wrap” and preparing a pro-spectus for a listing later this year.
The super wrap aims to wrap up banking, investment and superannuation under one administration system. It has already signed a distribution agreement with Australian Financial Group (AFG) who have also taken a stake in the group.
About a third of the company will be offered to investors in the stock market list-ing.
Tendulkar will be replaced by Peter Philp, who has been looking after another CPS product called SuperChoice. Apart from his time with CPS, Philp has experience in a number of financial services roles in Canada, Australia and the UK. Damion McNaught replaces Philp as product manager of SuperChoice.
