Australian Ethical Investment

Australian Ethical Investment Ltd has appointed Mr Phillip Vernon as its new Chief Executive Officer. He will join the company on 7 December 2009.

Ms Naomi Edwards, Chair of Australian Ethical said, ‘Mr Vernon brings broad experience in building financial services businesses, corporate governance and industry leadership. His passion for responsible investment will serve us well in leading Australian Ethical at this important time in our history.’

Commenting on his appointment, Phillip said ‘With the increasing awareness amongst consumers toward sustainable products, the responsible investment sector is set to grow significantly over the coming years.’

He added, ‘I’m delighted to be joining an organisation with Australian Ethical’s pedigree, authenticity and commitment to this sector.’

Phillip has 25 years experience in financial services covering funds management, capital markets and superannuation. Most recently he was a member of the Executive Committee of Perpetual Limited heading up its Corporate Trust division. Over the past 10 years he grew the business organically and by acquisition from a small base to be a business of $34 million profit, 400 staff and responsible for over $200 billion in funds under administration.

With extensive experience in corporate governance and industry regulation Phillip has played a large role in industry affairs most recently as Chairman of the Australian Securitisation Forum where he helped forge many industry standards for investor protection and transparency in the Australian credit markets.

Phillip has a long held interest in sustainability and corporate social responsibility and has recently been invited to join the board of Planet Ark.

Phillip has a Bachelor of Economics from the University of New England, a Master of Commerce from the University of New South Wales and a Master of Business Administration from the Macquarie Graduate School of Management. He is a Fellow of the Australian Society of Certified Practising Accountants and a Member of the Australian Institute of Company Directors.

For comment contact:

Naomi Edwards
Chair
Phone 0408 878 089

Paul Harding-Davis
Head of Distribution
Phone 0438 266 642