The investment manager has appointed a new chief executive following the retirement of CEO and CIO Vincent Hua.
Tim Yule has been named as the new CEO of Mason Stevens following the retirement of Vincent Hua, who will depart from the roles of CEO and CIO after 11 years at the firm.
Mr Yule has over 25 years of leadership experience at investment banking and wealth management businesses including at UBS, Royal Bank of Scotland, Perpetual and Westpac.
He will step into the role of CEO from his previous position as managing director and co-head of distribution.
“Tim has been an integral part of Mason Stevens for the last six and a half years, playing a senior leadership role in the growth of our business,” said Mason Stevens chairman Patrick Handley.
“He has been on the journey for our entire technology build and the development of our product set and is very well placed to take the business forward.”
Mr Yule said it was an exciting time for Mason Stevens after the largest half of inflows in the firm’s history.
“I am excited to be leading an incredibly talented team into this next phase of growth for the firm,” he said.
“We have a renewed focus on how we move forward to grow and where we can best provide value to clients, all the while keeping the facilitation of our investment expertise, and access to investment opportunities, at the forefront of our proposition.”
Following the departure of Mr Hua, executive director and COO Ron Erdos will oversee investment management activities until additional appointments are made.
Mason Stevens credited Mr Hua with helping to drive the success of the investment platform which has grown to oversee about $7 billion in funds under administration since it was established in 2010.
“Vincent has played a pivotal role in Mason Stevens’ achievements in the last decade,” said Mr Handley.
“His contribution has been invaluable, especially in the development of our unique offering of providing a wide range of investment opportunities to our clients.”
Commenting on his retirement, Mr Hua said it was an honour to have been a part of the firm.
“I am proud of what we have achieved, our clients and our team. I wish them every success in the future,” he said.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
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