Gibbons departs Merrills
Michael Gibbons has departed Merrill Lynch Mercury Asset Management after three years as business development manager.
Michael Gibbons has departed Merrill Lynch Mercury Asset Management after three years as business development manager.
Gibbons is to take up a position outside of funds management with an e-commerce venture called Change My Address.
"I will be coming in with some equity but also as the general manager for market-ing,” Gibbons says.
“It is a big step away from financial services but technology and its use is the fu-ture."
Gibbons’ departure comes just months before the group is to lose the name Mer-cury as Merrill Lynch looks to shore up its brand globally. Merrill Lynch bought Mercury’s worldwide business just over tow years ago.
Gibbons joined Mercury just before the acquisition was made upon returning from Honk Kong. He also had a three year stint at Ipac.
Gibbons says he is looking forward to greater autonomy in his new role as well as some control which the equity involvement will bring.
"In the business development role, there were restrictions due to the nature of the company, products and investment style," Gibbons says.
His resignation reduces the New South Wales Merrill sales team to four including national sales manager Damien McIntyre, with the national sales team numbering ten. However retail account executive Chris Niall says Merrill has already received a number of applications for the position vacated by Gibbons.
AUTHOR
Jason Spits
Recommended for you
Retail investment into private credit funds could surpass that of sophisticated investors, according to ASIC, but the regulator admits it is unsure how and where these individuals are first being introduced to the vehicles.
With the high cost of advice keeping young Australians locked out of advice, a fintech provider has said digital advice is key for licensees to capture this unadvised demographic.
ASIC chair Joe Longo has announced he will step down at the end of his term, departing the corporate regulator in May 2026.
When it comes to the phase-out of AT1 bonds, Schroders fixed income manager Helen Mason has urged financial advisers to sell up sooner rather than later or risk capital losses.
