Australian Wealth Management Firm Names New CEO

Vanessa Doctor

8 September 2009

Australian wealth management company Ord Minnett has announced the appointment of Tim Gunning as its new chief executive officer.

Mr Gunning was previously the general manager of Commonwealth financial planning for Commonwealth Bank and will be assuming his new role effective 1 October 2009. He replaces Karl Morris, who will officially become the executive chairman of the firm on the same date.

"I am looking forward to growing what is already a great stockbroking franchise in the Australian wealth management market and to continue to develop first class wealth management products for investors," said Mr Gunning in a statement.

He will be responsible for Ord Minnett Private Wealth, Portfolio Services, Funds Management and Corporate Finance operations.

Ord Minnett was majority acquired by Australian Wealth Management in May 2008, which then merged with IOOF Group in April 2009.