Former MLC head reemerges at new firm
Former MLC chief executive Steve Tucker will head up a new funds management firm, slightly more than a year after his departure from the NAB-owned business.
Tucker will take a 20 per cent stake and the executive chairman role at the newly-formed Westoz Investment Management, with the remaining 80 per cent to be owned by parent company Euroz Limited.
It marks a significant expansion for the Euroz group, which also manages Westoz Fund Management and Euroz Securities Limited.
Tucker left MLC in March last year after being an NAB employee for 25 years and heading up the wealth management business since 2004.
At the time, NAB chief executive Cameron Clyne said Tucker’s departure was a mutual decision.
Commenting on Tucker’s appointment to Westoz Investment Management, Euroz chairman, Andrew McKenzie, said: “We are fortunate to have attracted someone with Tucker’s industry knowledge and experience to help drive this exciting growth opportunity”.
Tucker said he sees “great scope” to broaden the business’ appeal to the wider investment market.
The Western Australian-focused Euroz group is most well-known for Westoz Funds Management, which was formed in 2005 and looks after around $280 million on behalf of Westoz Investment Company and Ozgrowth Limited.
AUTHOR
Staff Writer
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
