Top Advance exec poached by Tower
Tower Australia has appointed former Advance Asset Management head of product Sue Mieog as head of its investment products, as part of an ongoing strategy to strengthen its investment management capability.
Mieog has been head of product at Advance for the past two years, and she has also held previous positions at ING and BT.
Tower Investments chief executive Grahame Evans said Mieog’s appointment reflected the group’s strategy to improve its relationship with the financial planning community on the investment side.
Evans was himself appointed to Tower from Professional Investment Services (PIS) in June this year as part of the same strategy.
“We’ve appointed Mieog to our most senior level in our senior executive team to bring the experience of her involvement with Advance, ING and BT into the group.
“She will be working heavily on three different areas, including the investment strategy overall, the product strategy and also in regard to our existing book,” Evans said.
“Tower is still a risk specialist but our involvement on the investment side is really to support and work with the distribution we work with on the risk side.
“However, they have different needs than what I would call the investment advisory specialists, and we are working particularly on strengthening this side of the market.”
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.
