John McIlroy leaves Multiport
Multiport managing director and founder John McIlroy will leave the business and be replaced in the interim from 16 April by former iPac head of financial planning Libby Roy, AMP has announced.
AXA Australia purchased Multiport in 2009 and integrated into it the AMP Group following the AMP/AXA merger in 2011.
AMP director of banking and wealth management products Rob Caprioli said McIlroy had played an important role in the development of the SMSFs market in Australia.
"John has been a driving force in the development of the SMSF market in Australia, with Multiport now a pre-eminent SMSF provider with more than $2 billion in funds under administration and with an increasing presence in the managed accounts area," he said.
Roy's most recent position as general manager ipac financial planning saw her take charge of ipac's in-house and equity partner network, including 150 advisers and overseeing funds worth over $5 billion.
She has over 17 years experience in Australia and the United States across a range of industries. Roy has also held the position of general manager American Express Travel for Asia-Pacific.
Her financial services history includes general management, marketing, product development and operations. She has also worked for Booz as a strategy consultant.
Mr McIlroy will take a short break before pursuing other business activities.
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
