MFS distribution head resigns
A request to relocate to Queensland has proved too much for Sean Preece, the general manager of distribution for boutique fund manager MFS, who has decided to leave the company so he can stay with his family in Sydney.
His departure follows a decision by the Gold Coast-based company to move all of its senior executive managers to its head office in Southport, Queensland.
MFS said general manager of income funds Steve Kyling, and national sales manager Paul Turner would take joint responsibility for Preece’s role.
Based in MFS’ central Sydney office, Preece said he had taken a redundancy package rather than relocate his young family.
He said his next move could be a consulting role in sales distribution or funds management.
“I’ve had a number of boutique operations have a chat with me to see if I could help them out,” he said.
MFS listed on the Australian Stock Exchange in January and soon after took a controlling stake in listed resort and holiday group BreakFree, which is based on the Gold Coast.
In the lead up to the merger the company restructured its business, retrenching its marketing team plus four other staff, and hiring Steve Kyling from Challenger to head up its Premium Income mortgage fund.
Recommended for you
Zenith Investment Partners has welcomed a BDM focusing on adviser solutions in a series of appointments, while two asset managers have also confirmed new hires.
AMP non-executive director Kathleen Bailey-Lord and Iress non-executive director Susan Forrester have been appointed to the national board of the Australian Institute of Company Directors.
Wealth manager JBWere has announced the launch of two fixed income strategies for wholesale clients, backed by UBS Asset Management.
Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.
