Ord Minnett CEO resigns

Tim Gunning, CEO of wealth management and corporate finance firm Ord Minnett, is leaving at the end of the year.

In an internal memo, chair Karl Morris shared the news of the resignation with staff. "After 10 years as chief executive of Ords and the transition to independence now finalised, Gunning has decided to move on," he wrote.

Gunning joined the organisation 10 years ago, and oversaw the transition of the business from a broker to wealth management that now oversees $11 billion in client assets. Morris credited Gunning for helping him restructure the firm's institutional stockbroking division.

Before joining Ord Minnett, Gunning looked after the financial advice business for Colonial First State and was GM of advice at Asgard Wealth Solutions. He also worked for Deutsche Private Bank.

Gunning has not said if he has another position lined up, nor has the business said what it will be doing with the chief executive duties while they search for a replacement.