Listed investment company Contango Income Generator has Andrew MacDonald as the replacement for outgoing board chair Ian Ferres.
Mr MacDonald has over 30 years’ experience in banking and financial services, and has worked across more than 20 countries, including the United States, the United Kingdom, and parts of Europe and Asia.
“We’re delighted to have someone of such calibre come on board to help guide the company as we look to build on the momentum built in our first year,” said parent company Contango Asset Management managing director George Boubouras.
In addition to the appointment of Mr MacDonald, Contango Income Generator announced a reduction in fees for all board members as part of a number of changes to board structure “in the interests of maximising shareholder value”.
A new appointment has also been made within Contango Asset Management, with Hari Morfis taking on the role of general counsel.
Ms Morfis previously worked with financial services firm UBS for over a decade, most recently as the company’s executive director, head of compliance for the Australian wealth management arm.
“We have made it very clear that we are committed to a high degree of regulatory scrutiny and compliance as we take this business forward,” Mr Boubouras said.
“With some new products and services on the horizon Hari’s guiding hand is going to be vitally important.”