Wilson Asset Management founder to step up as CIO

Wilson Asset Management (WAM) founder and chair, Geoff Wilson, has announced in a letter to shareholders that he will take on the role of chief investment officer following Chris Stott's decision to retire.

Stott will continue as a director of WAM Capital and WAM Microcap.

Wilson - who is chair of WAM Capital, WAM Leaders, WAM Global, WAM Research, WAM Active and WAM Microcap - said of Stott's retirement: "I have had the pleasure of working closely with Chris for 12 years. I have particularly enjoyed his passion for markets and focus on delivering returns for shareholders ... I am looking forward to continuing to work with Chris at board level and everyone at WAM wishes him well in his future endeavours."

He added: "As chairman and CIO, I will continue to work closely with the investment team to ensure we remain focused on providing shareholders with strong risk-adjusted returns derived from undervalued growth companies using the same investment process that has delivered over 20 years."