Preece resurfaces at Ord Minnett
Former MFS head of distribution Sean Preece has returned to the financial services industry to take up the position of head of distribution for Ord Minnett’s asset management division after resigning from his previous role last year.
Preece left MFS in August 2005 to stay with his family in Sydney after the Gold Coast-based company moved to relocate its senior executive team to its head office in Southport, Queensland.
Prior to working for MFS, Preece was the general manager of distribution services for Challenger Financial Services Group. He has around 16 years experience in the funds management industry.
In his new role with Ord Minnett, Preece will assume nationwide responsibility and be based in Sydney, where he will report to Ord Minnett Asset Management managing director Walter Lewin.
Lewin said Ord Minnett was delighted that Preece decided to join the company.
He said Preece would continue to work closely with platforms, research houses and key dealer groups, as he had done in all his previous roles.
“We have recently released several new offers that will be made available to the market, including the Ord Minnett Enhanced Income Fund. Sean will be integral to the continued growth of funds under management for these offers,” Lewin said.
“Sean’s knowledge and experience will also assist us in identifying new products that will meet the needs and expectations of both investors and distribution partners.”
Ord Minnett is approximately 70 per cent owned by directors and employees and 30 per cent owned by J.P. Morgan. It currently has funds under management of approximately $500 million.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
