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PostWysłany: Śro 10:43, 08 Sty 2014    Temat postu: Homecoming leads to IOOF top job

Homecoming leads to IOOF top job
He has gone from holding the $US500 billion ($A670 billion) purse strings of JP Morgan Fleming Asset Management on Fifth Avenue to controlling a more modest $14 billion bundle of cash on Collins Street.
But Ron Dewhurst doesn't measure success by how much money he takes care of.
"I think the thing that defines success in this part of the market which is changing a great deal overseas and over here is having a very clear strategy about where you think you can be unique . . ,[url=http://nikefree.mobilejeti.com]nike free run[/url]. and that's not deliverable without intellectual capital."
Eighteen months ago the 51yearold resigned as head of Americas for JP Morgan Fleming Asset Management and moved his wife and two children back to Melbourne (where he was born) after a 13year career on Wall Street.
"We never planned to come back," Mr Dewhurst said. "Life was pretty good elsewhere andI had a good job, but obviously things change."
A former head of broking business ANZMcCaughan and onetime coach of Olympian Raelene Boyle, Mr Dewhurst returned to Australia when his wife's father became ill.
His early notion of a life of semiretirement and charity work he sits on the boards of Breast Cancer Network Australia and the National Gallery of Victoria were replaced by a need for something "more handson".
"I felt a little unfulfilled so I wanted to get back into running an everyday business," he said.
Financial services outfit IOOF Holdings yesterday announced Mr Dewhurst would replace Rob Turner as managing director, ending Mr Turner's sevenyear stint at the helm.
Mr Dewhurst said IOOF, which listed on the ASX in December last year, had done well in demutualising and rationalising its business.
Last month IOOF said it was confident it could exceed its prospectus forecast for 200304 after increasing profit after tax for the six months to December from $5.1 million to $11.5 million.
The prospectus forecast a fullyear net profit of $22.5 million. IOOF scrip yesterday rose 12 to $4.50.
Mr Dewhurst confirmed that his family would soon take up residence in the $6 million Toorak mansion he bought from lawyer and media personality Steve Vizard in February last year.

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