An Australian wealth manager carved out of UBS said it will beef up its board because it is preparing for substantial growth next year.
Crestone, a wealth manager that was established by former UBS employees in Australia last year, said is it appointing Sheila McGregor to its board. She is one of Australia's leading information technology legal practitioners and a senior partner at Sydney law firm Gilbert & Tobin.
McGregor's appointment is part of an effort to widen the firm's board to outsiders, employee-owned Crestone said in a statement. Her appointment comes three months after the firm added Westpac's Peter Hawkins to its board.
Prepping for 2018
Crestone said board member Michelle Inns will retire to focus on her role as operating chief. Qantas chairman Leigh Clifford will also chair Crestone, replacing John McDonald, who had supported the firm's carve-out by acting as the main interface with UBS. He remains a non-executive board member.
«Crestone is expected to grow significantly in 2018 as we build up our resources and capacity to provide a distinct offering,» said Mike Chisholm, Crestone's Chief Executive.
