Fri, 06 May 2005
TOWER Limited has announced the appointment of Grahame Evans as its Chief Executive Officer for Investments in Australia.
TOWER Group CEO, Mr Jim Minto, said the appointment of Grahame completed the TOWER senior executive team under the new management structure put in place from 1 March this year.
“Grahame will take responsibility for the Investments business in Australia which we see as being complementary to our strong market presence in the risk insurance sector,” he said.
“TOWER in Australia is committed to being the country’s leading provider of life insurance and to being a niche competitor in investments. It is part of our strategy to provide a complete service to our independent adviser partners with both risk and investments to meet the needs of their clients.”
Mr Minto said TOWER in Australia presently has more than $2.7 billion in Funds under Management (FUM) and $0.5 billion in Funds under Advice (FUA) and was looking to significantly grow this in the coming years under the leadership of Grahame.
Grahame Evans joins TOWER from Professional Investment Holdings (PIH) where he has been Managing Director for the past two years. Prior to that, he was Managing Director of Professional Accountants Limited (PAL). Overall, he has more than 20 years' experience in the superannuation and investments industry.
He has an Executive MBA from the Australian Graduate School of Management and a Diploma of Superannuation Management from Macquarie/AFSA.
Grahame will join David Callander, who is CEO Risk in Australia; Steve Boomert, CEO Health & Life, New Zealand; Pieter Lindhout, CEO General Insurance and Direct, New Zealand and Tony Hildyard as CEO Investments, New Zealand to make up the direct product-line reports to the Group CEO, Jim Minto. Also making up the TOWER top team are John de Zwart as Group CFO and William Giesbers, Group General Manager.
“The five product-line CEO model now in place is about individual business-line competitive strategy, performance and accountability, as well as delivering strong customer service and shareholder value,” Mr Minto said.
“We now have in place the team which can drive the TOWER Group forward by delivering profitable growth in the market sectors where it currently operates and holds market advantage, and other market sectors where it may choose to operate.”
Mr Evans will take up his new role in mid June and will be based in Sydney.
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