PIS names new chief
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Professional Investment Services (PIS) has named David Johnstone as its new chief executive.
Johnstone has been working as a consultant to PIS for the past 10 months. The group said he had been instrumental in the proposed merger between PIS' parent company, Professional Investment Holdings (PIH), and Centrepoint Alliance, in addition to shoring up the deal between PIH and Credit Union Australia (CUA).
Johnstone's most recent role was as general manager for PR Finance Group, a company that offers lending for the used car market, micro-lending services and short-term equity-based secured loans.
It positions itself as an alternative to lending services offered by the banks, a space PIH has been working to enter in recent months through its partnership with CUA.
Johnstone was chief executive of Bartercard Australia between 2003 and 2006.
He will now be based in PIS' Queensland head office, and will report to PIH managing director Grahame Evans, based in Sydney.
Robbie Bennetts, chief executive of PIH, until recently also acted as chief of the subsidiary dealer group. The group announced at its annual conference in March that Bennetts would step back from operational and day to day matters of the licensee.
The statement from PIH said the appointment of a dedicated executive would lead to "greater focus on and control of" its biggest subsidiary company.
The group said Bennetts will now focus on longer-term, strategic initiatives for the broader group.
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