Wilson HTM is set to launch a standalone securities business, majority of which will be owned by staff.
The transition to the securities business will be led by Alan Watson, who is designated as the company’s commercial asset manager.
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Watson, the company’s commercial asset manager, has been appointed as the lead independent director to lead the transition to the securities business.
At the same time, the company has also begun a process for hiring two more independent directors to the board.
Sandy Grant, managing director, will also be involved in the transition, as well as will the group’s few other divisions, which include Next Financial, Priority Funds and Group Overhead/Treasury.
Brad Gale, the company’s head of private wealth management, has been proposed as the acting chief executive of the relevant entities of the securities business.
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By GlobalDataThe move to split Wilson HTM’s fund management and stockbroking arms comes following failed merger talks with rival Shaw Stockbroking.
