Ohanessian back as Praemium CEO
Ousted Praemium chief executive, Michael Ohanessian has been reappointed to the role.
Ohanessian’s reappointment was announced to the Australian Securities Exchange (ASX) today and was the inevitable corollary of last week’s decision by shareholders to replace the incumbent board.
The ASX announcement said Ohanessian’s appointment had been made under an interim agreement, reflecting his previous commercial terms as Praemium CEO except for a reduction in the notice period to 30 days.
It said the interim agreement was to allow the new board sufficient time to review the CEO’s employment conditions once it had had an opportunity to convene, and to consider whether the terms and conditions were appropriate and in line with the market.
The ASX announcement said the services of Preamium’s acting chief executive, Robert De Luca, had been concluded today.
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
