Powerwrap CEO departs

Powerwrap Limited has announced changes to its management structure which includes the departure of chief executive officer, Cormac Heffernan.

Heffernan has been Powerwrap's CEO for four and a half years and will now act as a strategic consultant to the firm.

He has over 18 years' experience in financial services, holding roles with NAB, BlackRock and INVESCO.

Commenting on his departure, a spokesperson for Powerwrap thanked Heffernan for his contribution and said that they "look forward to his continued involvement in the next stage of Powerwrap's evolution."

The management changes also include current board member, Chris Brant, assuming the role of managing director.