What did Australian Ethical announce?
This morning Australian Ethical announced that its board has appointed John McMurdo as its new chief executive officer and managing director.
Mr McMurdo will commence in the role from February 10. After which, acting chief executive officer Steve Gibbs will resume his position as the chair of the board.
His appointment follows the decision by former chief executive officer Phil Vernon to step down from the ethical fund manager in August 2019.
According to the release, Mr McMurdo is an experienced chief executive officer and director with a proven history of growth and success in the financial services industry.
He was most recently the group managing director of Fitzpatricks Financial Group. It is a national organisation advising on funds of over $7 billion and managing more than $1.6 billion in retail diversified managed funds and managed accounts at the time of his departure.
Prior to joining Fitzpatricks, Mr McMurdo was the chief executive officer of Centric Wealth Management and managing director of Hillross Financial Services.
Previous roles include head of the AMP Limited (ASX: AMP) life insurance business and marketing in New Zealand and senior positions in strategy, marketing and commercial banking with National Australia Bank Ltd (ASX: NAB) and Bank of New Zealand.
The company’s acting chair, Michael Monaghan, said: “The Board and I are delighted that John has agreed to join us. With over 30 years’ experience in investment management, advice and banking across Australia and New Zealand, we are fortunate to have someone of his calibre step up to lead Australian Ethical as what we do moves from the margins to the mainstream.”
“In considering this appointment, the Board was determined to ensure that Australian Ethical’s unique culture as a purpose-driven organisation was maintained while also growing the business in response to the boom in ethical investing,” he added.
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Another article.....
Executive Appointments
Former dealer group chief to lead Australian Ethical
BY HARRISON WORLEY | TUESDAY, 4 FEB 2020 10:56AM A former financial advice licensee head is set to lead the $3.8 billion ethical investment manager and super fund.
Australian Ethical has appointed John McMurdo as chief executive and managing director, with acting chief executive Steve Gibbs set to resume his role as chair of the board.
McMurdo is the former group managing director of Fitzpatricks Financial Group and a former managing director of Hillross Financial Services.
McMurdo will assume his post at the investment manager on February 10.
Acting chair of the Australian Ethical board, Michael Monaghan, said the firm was pleased to add McMurdo's decades of experience to its leadership team.
"The board and I are delighted that John has agreed to join us," Monaghan said.
"With over 30 years' experience in investment management, advice and banking across Australia and New Zealand, we are fortunate to have someone of his caliber step up to lead Australian Ethical as what we do moves from the margins to the mainstream.
"In considering this appointment, the board was determined to ensure that Australian Ethical's unique culture as a purpose-driven organisation was maintained while also growing the business in response to the boom in ethical investing."
McMurdo said the opportunity to join the firm was "rare" and paid tribute to its efforts to make money a positive influence on the world.
"I couldn't be more honoured to have been chosen to lead the company at a time when it has never been so important to invest for a better tomorrow," McMurdo said.
"I believe that the opportunities for Australian Ethical as an established leader in ethical investing are many and am looking forward to working with the talented, purpose-driven team and capitalising on their passion for making a difference."
McMurdo has also previously served as chief executive of Centric Wealth Management. He also led AMP's life insurance business in New Zealand, as well as the wealth manager's local marketing efforts.
AEF Price at posting:
$4.64 Sentiment: Buy Disclosure: Held
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