Evans Dixon has appointed a new chief executive after the incumbent stepped down in June to focus on an under-performing US fund.
The ASX-listed wealth and advice firm this morning announced Peter Anderson, who joined the board as an independent non-executive director on April 4, will take on the chief executive role.
On June 12, the company said Alan Dixon had agreed to step aside as chief executive to focus on the $335 million US Masters Residential Property Fund (URF) which had lost 34.2% over the year to May 31.
Executive chairman David Evans served as the interim chief executive until Anderson's appointment.
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"We had begun an executive search process however when it became apparent that Peter was available to lead the business the decision was clear. He is greatly respected by the rest of the board. Evans Dixon management and staff," Evans said in company filings this morning.
"Peter brings a wealth of executive experience and exceptional leadership skills to his new role. Most recently he has been executive chairman of McGrathNicol where he has overseen the transformation of that business from a specialist restructuring practice to a business with over 50% of its turnover relating to general advisory services."
Anderson will step down from the board when a replacement independent non-executive director is appointed, the company said.
"I'm excited to be joining Evans Dixon at such an important time for the business. The last six to nine months have been challenging, however I firmly believe that the core strengths of the business in terms of its team of highly talented people, its increasingly diverse and strongly performing product portfolio and large and loyal base of clients, continues to give Evans Dixon exceptional competitive advantage," Anderson said.
"Our job now is to leverage that competitive advantage to maximum effect over the coming tears for the benefit of all stakeholders including clients, staff and shareholder."
Evans Dixon has about 9000 clients and $20 billion funds under management in its wealth advice business, $6.7 billion in funds under management in its funds management business, and it works with institutions on corporate advisory, capital market services and research in its corporate and institutional business.