Gunning announced chief executive of Ord Minnett
Former Commonwealth Financial Planning (CFP) general manager Tim Gunning has been appointed chief executive of specialist financial services provider Ord Minnett.
The announcement follows yesterday’s revelation that Gunning had resigned from his post at CFP.
Gunning has been replaced at CFP by national manager David Mackay but is not due to begin his role as chief executive until October 1. Gunning will replace the current chief executive and managing director Karl Morris, who will take on the position of executive chairman at Ord Minnett.
Under Gunning’s management will be Ord Minnett’s private wealth, portfolio services, funds management and corporate finance businesses.
Morris said Gunning’s experience in financial services made him the “ideal fit” for Ord Minnett, which was acquired by Australian Wealth Management last year before it merged with IOOF Holdings in April this year.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.