SYDNEY: Euroz Hartleys Group Limited announced Friday the appointment of Alan Logan as chief executive officer, effective Oct. 26, ahead of the expected completion of its transaction with BMO Financial Group.

Logan brings extensive wealth management experience from Shadforth, Godfrey Pembroke and MLC. He holds an MBA from the University of Western Australia and is a graduate of the Australian Institute of Company Directors.

He has also served in governance and director roles with the Prior Family Foundation and the Royal Botanic Gardens Foundation in Melbourne.

Outgoing Executive Chairman Andrew McKenzie said Logan is only the company’s fourth managing director or CEO in its 26-year history.

“This important appointment reflects our new pure play focus on the growth and optimisation of our well established Private Wealth business,” McKenzie said.

The company also announced a new board effective upon completion of the BMO transaction. Jay Hughes will return as non-executive chairman. Hughes co-founded Euroz Securities Limited in November 2000, holds approximately 7.29% of the company and served as an executive director from 2000 to 2023. He is currently non-executive chairman of Emerald Resources, a gold producer with a market capitalization of 4.3 billion Australian dollars.

Non-executive directors Robin Romero and Fiona Kalaf will retire upon completion of the transaction after approximately six and four years of service, respectively.

Andrew McKenzie and Tim Bunney will continue as non-executive directors in the short to medium term as they transition to full-time roles with BMO. Richard Simpson will remain a non-executive director.

The company will also welcome two new executive directors at the close of the transaction: Andrew Fry and Michael Bartley.

Fry joined Entrust Wealth Management in 2003 as a senior investment adviser and was appointed a director that November. He served as managing director from 2012 to 2017 and executive chairman from 2017 to 2020. He is currently a private wealth adviser with Euroz Hartleys and holds a Bachelor of Commerce.

Bartley has worked in stockbroking since 2010 and is currently a private wealth adviser with Euroz Hartleys, focusing on high net worth clients. He holds a Bachelor of Commerce from Curtin University and a Graduate Diploma of Financial Planning from Kaplan Professional Education.

McKenzie said the appointments mark “the start of the next chapter of focus and growth for Euroz Hartleys” and expressed confidence that the strategic alliance with BMO will create a stronger platform for private wealth clients.

According to the announcement, Logan’s employment agreement provides for a base salary of 400,000 Australian dollars per year, exclusive of superannuation. The notice period is three months during the first six months of employment and six months thereafter.