Managed Accounts CEO to depart

Platform provider and investment administrator, Managed Accounts Holdings (ASX: MGP), has announced to the ASX the departure of chief executive officer, David Heather, effective 9 May 2019.

Heather, who was appointed to the top job in 2014, has worked for MGP and its predecessors for over a decade.

Commenting on his departure, recently-appointed non-executive chair, Peter Brook, said that the firm had "reviewed its market position and determined that the next growth phase required a fresh leadership approach and the energy to capture a range of market opportunities."

Don Sharp, who stepped down as executive chair due to his increased executive responsibilities, which includes serving as acting CFO following the departure of Mark Pozzi, will now serve as chair of MGP's executive committee and will assume the role of acting CEO should a new CEO not be appointed within three months, MGP said.