IOOF reveals new managing director
IOOFhas appointed a new group head following a five month search to replace incumbent managing director Rob Turner, who is scheduled to depart at the expiration of his contract in June.
As of April 19, the recently listed firm will be steered by former New York-based JP Morgan Fleming Asset Management head of Americas Ron Dewhurst.
Australian-born Dewhurst has more than 30 years experience in both domestic and international investment and financial services management.
IOOF chairman Ray Schoer says Dewhurst, with his breadth of experience, “will provide the sort of leadership we are looking for in our new listed environment”.
Last November Schoer responded to moves by a number ofWinchcombe Carsonplanners to have Turner’s contract extended by stating because the listed company will be a fund manager it was “looking for someone with experience in funds management”.
In the face of its December listing on theS&P/ASX200 Index, IOOF announced in October last year that it would not renew the contract of Turner after seven years at the helm of the Melbourne-based group.
Turner, who is yet to announce his post-IOOF plans, will now be involved in the handover of the business to Dewhurst.
Dewhurst’s previous experience also includes heading up businesses for JP Morgan in Asia, Europe and the US covering asset management, securities and investment banking.
Prior to joining JP Morgan in 1993 he was managing director for ANZ McCaughan Securities.
AUTHOR
Lucie Beaman
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
