Equity Trustees (EQT) has appointed George Boubouras as interim chief investment officer, pending the outcome of EQT's takeover offer for The Trust Company (TRU), according to an announcement from the financial services company.
Mr Boubouras is replacing Shaun Manuell who moved to Australian Super earlier this year, Geoff Rimmer, head of private wealth services at EQT, told InvestorDaily.
Mr Rimmer added that the CIO position is an interim one because of the "current corporate activity" at EQT, referring to the as yet unknown outcome of EQT's proposed takeover offer for TRU.
EQT has extended the offer period from May 6 to June 5, 2013.
Mr Rimmer added that if EQT is successful, a review of structure and positions would take place and equally, "conversation" would continue if the offer is not successful.
"When you look at the importance of the role, and the potential impact that would have on both businesses... we thought it would be the most appropriate for us to proceed with an interim appointment," he said.
Mr Boubouras is an ideal appointment, given his background, experience and profile in the marketplace, Mr Rimmer continued..
"He's going to help us review the core investment team for the business... taking into account the strategy of the business and also some of the regulatory obligations we have, to make sure that we've got the best structure in place," Mr Rimmer said.
Mr Boubouras joins EQT from UBS Wealth Management where he was head of investment strategy and consulting, EQT said. Prior to that, he was with Macquarie Bank.
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