EQT appoints interim CIO

Equity Trustees (EQT) has appointed George Boubouras as interim chief investment officer, pending the outcome of EQT’s take-over bid for The Trust Company.

Boubouras joins the financial services firm from UBS Wealth Management, where he was head of investment strategy and consulting, responsible for research and investments across all asset classes.

Before that, he worked in investment and strategy for Macquarie Bank’s key client group and was responsible for portfolio construction, equity portfolio strategy and economic analysis at HSBC Asset Management (Australia).

“We have recently put additional focus on our wealth management business, strengthening the management team and adding services that are relevant both to our clients as well as the broader financial planning industry,” EQT managing director Robin Burns said.

“Adding a CIO with broad funds management experience enhances our capability in an important area.”

Since first announcing its takeover bid in February, EQT has recently extended its take-over offer period to The Trust Company from 6 May to 7 June.

In its most recent letter to The Trust Company shareholders, released on the Australian Securities Exchange, EQT stated that if a decision to merge is not successful and no alternative offer emerges, “the value of  shares in The Trust Company is expected to fall significantly”.