Aus Ethical Investment CEO to depart company

Australian Ethical Investment Phil Vernon steve gibbs people and products

26 June 2019
| By Hannah Wootton |
expand image

Australian Ethical Investment’s chief executive and managing director, Phil Vernon, is stepping down after nine years in the role.

Vernon joined the company in December 2009, overseeing substantial growth for the business as the ethical investing became more popular over the past decade. Under his leadership, the firm’s funds under management increased from $600 million to over $3 billion, its market capitalisation went from $20 million to $200 million, and its superannuation farm rapidly grew.

“On behalf of the Board, I wish to extend my sincere thanks and gratitude to Phil for his significant contribution to Australian Ethical. He has led the organisation through unparalleled growth and success over the past decade,” Australian Ethical chair, Steve Gibbs, said when announcing Vernon’s departure.

“After nine years at the helm I feel now is the right time to hand over to fresh leadership to take Australian Ethical to the next level … It has been an honour to have worked with so many inspiring people both within the company and throughout the industry who are dedicated to reshaping the financial system and making the world a better place,” Vernon added.

Vernon would depart on 31 August, this year, with Gibbs to step in as acting chief executive. The Board had already started its search for a permanent replacement.

Read more about:



Recommended for you



sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

Chris Cornish

Needed to add - "consult heavily with the market " ... but don't publish or listen to submissions if they differ from ou...

23 hours ago

So standard 5 success is a bit dependent on the brain of the inspector. JG...

1 day 11 hours ago

I don't have any faith in the regulator. I've stopped reading these and just think some poor guy got busted for a spell...

1 day 18 hours ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

10 months 2 weeks ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

10 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

10 months 2 weeks ago