New chief executive at Treasury Group
Treasury Grouphas reshuffled its management structure as the group aims to focus on managing and growing its existing boutique investment businesses rather than further expansion of the group.
Treasury’s former manager of strategic investment, David Cooper, has taken on the newly created role of chief executive officer, while managing director Rodney Green has renewed his contract but had his role redefined.
Cooper says the business as it stands at the moment is different to the cash shell that existed four years ago, and that the management have had to adapt to the evolving business.
In his role Cooper says he will be focussing more on the day to day management of the company, while Green will now devote more energy to the specialist tasks required by the different boutique managers.
In his previous role as strategic investment manager, Cooper analysed the new deals done by the group, and played a key role in the establishment ofOrion Asset Managementand Confluence Asset Management as well as in the floatation of listed investment company, Premium Investors Limited.
However, Cooper says the business has to manage existing ventures well rather than continuously expand.
Green is to remain on the Treasury Group board as an executive director and will also assume positions on the newly formed board remuneration and nomination sub-committees.
He will also continue in his directorship role on the Board of Directors ofInvestors Mutual, Treasury Group Investment Services and as chairman of Premium Investors Limited.
The group says it now has investments in four operating funds management businesses, management rights to Premium Investors, as well as a full service administration support facility to the fund managers in the group.
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.
