Former Hillross MD to lead Centric growth

Centric signals intention to list

By Julie May
Thu 04 Feb 2010

Following nearly four years at Hillross, John McMurdo will take up the chief role at Centric in March.

Dealer group Centric Wealth (Centric) has said that former Hillross managing director John McMurdo will take up his post as the group's new chief executive in the first week of March.

The former AMP-owned dealer group head, whose resignation was announced yesterday, took up his role with Hillross in 2006 following time spent as head of AMP's life insurance business and marketing operations in New Zealand.

Centric chairman Philip Kelly, who had been acting as the group's chief executive since the resignation of Michael Pillemer in September last year, said the Centric board was pleased with McMurdo's appointment.

He said there was interest from a number of high quality candidates, but that McMurdo's skills and broad experience in financial services were the ideal fit for Centric's requirements.

Centric was entering into a phase of growth, Kelly said, which was why McMurdo's track record in marketing and growing businesses was particularly important to Centric.

"We hope to be of a certain size and quality over the next few years as we have intentions to list Centric Wealth some time within the next three to five years," Kelly told InvestorDaily.
 
McMurdo said he was determined to make a real difference at Centric and was looking forward to what he saw as an exciting leadership challenge.

Centric's network of 59 advisers currently provides services across financial planning, risk insurance, corporate benefits, lending, accounting and business advisory, general insurance and family office requirements.

An AMP spokesperson said a search was currently underway to replace McMurdo and that in the meantime Hillross head of growth and mergers and acquisitions Ray Djani would be acting in the role.

Go to today's InvestorDaily news

More stories by this author