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Managed Accounts appoints former ASIC exec to board

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Managed Accounts Holdings has appointed former financial services lawyer and ASIC deputy executive director, financial services Pamela McAlister to its board of directors.

Pamela McAlister

In a statement, the business said it had also appointed Ms McAlister to chair the ARC risk and compliance sub-committee of the board, adding that her past experience will assist in the business’ plans to acquire a registrable superannuation entity (RSE).

Ms McAlister is a subject matter expert in superannuation for the Australian Financial Complaints Authority (AFCA), and was a director at boutique legal practice Mercer Legal between July 2014 and August this year. During that time she was also a senior governance consultant at Mercer.

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She has held partner and senior principal positions at law firms Hall & Wilcox as well as Greenfields Financial Services Lawyers between 2006 and 2014.

Ms McAlister was at ASIC as a deputy executive director, financial services between 2002 and 2004, and before that was a partner at Freehills in the funds management division.

“We are delighted that Pamela has joined our board as a director at what is an exciting time for our company and a period of significant change for the financial services industry,” said Managed Accounts Holdings chairman Don Sharp.

The statement said Managed Accounts Holdings is “well-advanced” in the process of acquiring an RSE and Ms McAlister “will be invaluable if this transaction proceeds”.

“Pamela’s deep expertise in financial services law, governance and industry regulation will be a critical asset to our business,” Mr Sharp said.

“Her counsel and input will be key in how we service advisers, brokers and fund managers looking to future proof their business models and operations as the shift to non-unitised wealth management services continues.”

Prior to her work with Mercer Legal, Ms McAlister held positions with ASIC, Hall and Wilcox, Australian Unity, and Greenfields Lawyers, the statement said.

Last week, Managed Accounts Holdings reported a net loss for its 2017–18 financial year, noting that expenses related to the acquisition of Linear had weighed on the business’ profitability for the 12-month period.

 

Managed Accounts appoints former ASIC exec to board
Pamela McAlister
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