Investor Group restructures management
Financial planning and accountant consolidator Investor Group has undergone a restructure of its operations resulting in the resignation of three directors and the appointment of a Edwin Gill as group chief executive.
In the newly formed position Gill will be responsible for the operating and profit performance of the group. He will report to the board and will have all divisional heads reporting directly to him and formally begins with Investor Group on September 17.
Investor Group said in a statement released to the Australian Stock Exchange that the appointment of Gill was the result of a review of its expanding operations and longer term corporate plans.
As such Investor Group said in the statement, “the scale of Investor Group's operations is now such that there are clear benefits in separating the two roles of realising the growth objectives of the organisation on the one hand and of extracting full value from existing and future member firms on the other.”
As a result of this restructure Investor Group’s current managing director Kevin White will remain in his position, but with a specific mandate on the further growth of Investor Group, in particular the acquisition strategy for the group.
White and Gill will work together closely to further expand Investor Group in areas where significant value added opportunities exist. Gill has also been invited to join the board as an executive director from the effective date of his employment with the company.
Gill is currently managing director of State Trustees Limited, a position he has held since 1996. In his time there he has been responsible for lifting the profit performance of that organisation through diversifying its income dependency from traditional trustee functions.
Prior to joining State Trustees Limited, Gill was the general manager of the legal pratice of Arthur Robinson & Hedderwicks for 12 years.
As part of the group’s restructure, three existing executive directors, M J Hutchins, D E Jennings and D N King, resigned as directors of the group effective immediately but will remain directors of Investor Business Services, the company's major operating subsidiary.
It is understood that the remaining company directors will elect two new non-executive directors, with the new group chief executive, Gill, filling the third hole left on the board.
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