Australian Ethical appoints CEO

Australian Ethical John McMurdo Phil Vernon appointment ceo

4 February 2020
| By Oksana Patron |
image
image
expand image

Australian Ethical Investment has announced that John McMurdo has been appointed as its new chief executive officer (CEO) and managing director while acting chief executive, Steve Gibbs, will resume chair of the board’s position.

McMurdo’s appointment followed the decision by former chief executive, Phil Vernon, who announced in August 2019 that he would step down from the leading ethical fund manager.

In the announcement made to the Australian Securities Exchange (ASX), the company said that McMurdo was “an experienced CEO and director with a proven history of growth and success in the financial services industry.”

“In appointing a new CEO and managing director, the board took the thoughtful approach that our members, employees and shareholders expect and deserve,” Gibbs said.

“And while it has been a pleasure to lead Australian Ethical as acting CEO, I’m confident that under John’s  guidance we will continue to fulfil the trust our members have in us and deliver the results they want for themselves as well as people, planet and animals.”

By taking the position as chair of the board, Gibbs would replace acting chairman Michael Monaghan who would remain on the board of directors.

Australian Ethical, which has  currently $3.87 billion in funds under management, has been providing Australians with wealth management products since 1986.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 22 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 1 day ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 20 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

1 day 23 hours ago