The new business is a subsidiary of listed financial services company Euroz Group, who will hold 80 per cent ownership.
“Westoz has built an impressive base of performance over a number of years now and I believe there is great scope to broaden its appeal to the wider investment market in the future,” Mr Tucker said.
“The listed investment company (LIC) sector is in great demand at present, with significant amounts of capital raised over the last 18 months.
“I expect the LIC sector will continue to go from strength to strength as Future of Financial Advice (FOFA) reforms have significantly increased the attractiveness of LIC structures.”
Mr Tucker held the role of MLC chief executive from 2004 until 2013, which included responsibility for MLC, NAB Private Wealth and JB Were.
He joined MLC in 1988 and held senior roles during is time there, including leading the company’s retail investment and advice businesses.
In addition to his new role at WIM, Mr Tucker will join the board of Westoz Funds Management as a non-executive director.
Euroz chairman Andrew McKenzie said Mr Tucker’s appointment will help drive the expansion of the Euroz Group’s funds management products and distribution.
“We believe the time is right to expand our funds management capability, which has now been in place for over nine years,” Mr McKenzie said.
“We are fortunate to have attracted someone with Mr Tucker’s industry knowledge and experience to help drive this exciting growth opportunity.
“The Westoz brand is now well recognised, our investment performance has been excellent through some challenging markets and we are exploring the expansion of our product set to provide great opportunities for access to the wider investment and financial planning community.”
