Departures following Trust restructure
TRUST general manager funds management Jeremy Edmonds has left the company following a restructure resulting from the merger ofPermanent Trusteesand Trust Company of Australia.
The search is now on for a replacement for Edmonds, who was primarily involved with the marketing and operational management of the division, with increased external sales to fulfil the company’s growth plans a key area of focus for the new appointee.
“We are now actively looking for someone to take the business ahead and grow funds under management,” Trust managing director Jonathan Sweeney says.
Trust will be specifically targeting platforms through this new push, particularly with its flagship imputation fund, which Sweeney says has never really been sold externally, despite operating since 1986.
John Wall, general manager fund services, will also leave Trust in early July, although he will continue to work with the company on a consultancy basis regarding compliance.
Wall’s role will be absorbed by David Heather, who is currently head of fund services.
The departures follow the release of Trust’s full year results to the end of February 2003, which showed a pre-tax operating result (before merger costs and significant items) of $7.2 million for the new entity.
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