Kate Mulligan will step down as managing director of All Star and Ventura Funds Management after internal changes within the Centrepoint Alliance-owned group resulted in her position no longer being required.
Mulligan leaves the company at a time when the challenges and demands on her role will be significantly less, Centrepoint Alliance chief executive Tony Robinson said.
“Kate has done a terrific job over the last 18 months successfully restructuring and simplifying the Ventura/ All Star business,” Robinson said.
“The business has now reached a point where the challenges for Kate will be significantly less over the near term, and the demands of the business on Kate will similarly be materially lower than it has been historically.”
Robinson said he and Mulligan agreed it was an appropriate time to make changes to the position and merge the division under a new product and platform unit.
“As a consequence, Kate and I agreed that it was an appropriate time to eliminate the role of [managing director] Ventura/ All Star and to merge that part of the group with the platform businesses under Mat Walker into a new merged Product and Platform unit,” Robinson said.
Robinson praised Mulligan for her efforts in successfully realigned the Ventura Multi manager business.
Commenting on her and Robinson’s decision, Mulligan said: “I am very proud of the FUM [funds under management] and revenue growth generated from creation of the funds management business, including All Star.
“The realignment of Ventura to provide financial advisers with cost effective, best of breed solutions for their customers with additional services has been particularly satisfying”.
Asked about her next move, Mulligan told InvestorDaily it was her intention to remain in the industry.
