McMurdo new CEO of Ethical Investment fund
Australian Ethical Investment has named John McMurdo it new chief executive as the fund manager moves to harness what it calls a growing social awareness among local investors.
Mr McMurdo, who will start on February 10, takes over from acting chief executive Steve Gibbs, who took over in August when former boss Phil Vernon stood down after nine years in the role.
Mr Gibbs will become chairman as part of the management shuffle.
Mr McMurdo, most recently group managing director of wealth manager Fitzpatricks Financial Group, said he joins AEI at a time "when it has never been so important to invest for a better tomorrow".
"Australian Ethical is one of those rare companies to have truly revolutionised the world by making money do good," Mr McMurdo said in a release on Tuesday.
The ASX-listed firm increased funds under management by 6.3 per cent to $3.87 billion for the quarter ended December 31, up from $3.64 billion at September 30.
Shares in the fund were up 5.0 per cent to $4.41 at 1017 AEDT - up 9.38 per cent for the year - even after slipping 26 per cent from an all-time high of $5.93 last month.
"Australians are becoming much more discerning about what their money is supporting which puts us at a critical moment for our business," Mr Gibbs said.
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