Treasury Group

TRG Chairman Mike Fitzpatrick said in the search for the new CEO, the Board sought a business leader with entrepreneurial skills and significant mergers and acquisitions experience.

“We conducted an extensive local and international search for the right candidate and we are extremely pleased to have found someone of Andrew’s calibre,” Mr Fitzpatrick said.

“We believe Andrew’s exceptional skills in growing and developing businesses will make him an invaluable addition to the Executive.”

Mr Fitzpatrick said the eight boutique fund managers within Treasury Group collectively hold more than $16 billion in assets under management and that supporting the managers would be a key objective for Mr McGill.

“Andrew’s immediate focus will be on growing and supporting managers within the TRG portfolio and assisting Premium Investors Limited. He will select and execute on a range of new investment opportunities currently under assessment, which will help take the Company through its next growth phase.”

Mr McGill has more than 20 years financial markets experience, including recent exposure to the alternative asset sector of the funds management industry. He also has experience in the listed and unlisted asset management industry and brings a strong fiduciary inclination.

Most recently Mr McGill was a founding partner of Crescent Capital, a successful mid-market private equity firm. He also held senior roles with Macquarie Bank and was a strategy consultant with LEK Partnership. He has a strong track record in mergers and acquisitions and corporate finance.

Mr Fitzpatrick said Mark Burgess will step down as Managing Director on 24 June 2011. “Mark has made a tremendous contribution to the Group and we wish him every success in his new role as General Manager of the Future Fund.”

David Cooper will continue work in an interim executive capacity until Mr McGill steps into the CEO role in mid July.

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