Wilson HTM Investment Group
(ASX:WIG) has appointed a new CEO and restructured its strategic alliance with Deutsche Bank.
Senior Wilson HTM employee David Groth will replace Garry Lowrey, who has resigned after 11 years with the group.
Mr Groth, who has worked for Wilson HTM for 16 years, will be responsible for the company’s wealth management and capital markets activities.
Meanwhile, the company has also terminated its Corporate Finance Services Agreement with Deutsche Bank.
Under the new agreement, Deutsche Bank will no longer receive a fee for providing corporate finance services to Wilson HTM.
However the company will pay Deutsche Bank $14.99 million in consideration for the termination.
The transaction is conditional on approval by shareholders and Deutsche Bank would retain its 19.9% stake in the company.
Wilson HTM Investment Group reported a profit of $2.19 million for the 2009 financial year.
