EQT adds specialist private wealth management role

Equity Trustees (EQT) has appointed its head of marketing Philip Galagher (pictured) to head up its private clients wealth management business.

Galagher joined EQT in late 2010 in the marketing role and will continue in that role with the new added responsibilities, according to EQT.

Lachlan Wraith had been looking after the wealth management business on an interim basis, but growth in that area led to the responsibilities being assigned to Galagher, allowing Wraith to focus on building the traditional philanthropy, estate planning and personal trusts business, according to EQT managing director Robin Burns.

Galagher’s primary responsibility in the new role will be building EQT’s portfolio management services, Burns said.

EQT anticipated increasing demand for private wealth management as a result of Australia’s ageing population, and has already seen more demand for its personal estates and trusts business under Wraith, Burns said.

Galagher has 40 years of financial services experience, which includes working as an economist in the Reserve Bank of Australia’s economics and research department in Melbourne, as well as IOOF, Commonwealth Funds Management and Tyndall Investments, EQT stated.