Aust Unity set to name new MD
Australian Unity acting managing director Murray Campbell has confirmed a new group managing director is due to be appointed this week, following on from the appointment of Jon Linehan last week as head of funds management.
The previous managing director Mark Sibree resigned at the end of May and Campbell says the structure put in place after Sibree’s departure, involving group secretary Simon Grant and finance manger Anthony Connon, will remain after the appointment of the new managing director.
“Simon and Anthony will continue their overseeing role of the [general insurance financial services business respectively],” he says.
“The new managing director will concentrate on the strategic direction of the company and we believe this presents a flatter management structure at the top.”
Linehan’s appointment follows on from his role as chief executive of the Host-Plus superannuation fund. The role of head of funds management fell vacant earlier this year when the previous head Craig Dunstan was moved into strategic planning at the friendly society.
Since then the role of head of funds management has changed, with responsibility for property investment being passed to general manager property Tory Richards.
Campbell says Linehan will be responsible for all the unit trust business of the friendly.
The group’s funds management division will still control distribution of investment products to external advisers, with national distribution manager Colin Owens reporting to Linehan.
Australian Unity now has $1.7 billion of funds under management.
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