Former Crestone CIO joins LIC

According to a statement to the ASX from Aberdeen Leaders, Dr Sokulsky will join as CEO and CIO in January 2018 and is described as “one of Australia’s premier wealth managers for high and ultra high-net-worth clients”.

Prior to joining Crestone, Mr Sokulsky was head of investment strategy at UBS Wealth Management and an analyst with a US-based hedge fund. He holds a doctorate in applied finance from RMIT.

The appointment of Mr Sokulsky follows the LIC's decision to "internalise" the management of its investment process, following the merger of its previous manager, Aberdeen Asset Management, with Standard Life Investments.

Mr Sokulsky will be replaced as Crestone CIO by former UBS chief economist and managing director Scott Haslem.

Crestone was launched in 2016 after a number of senior UBS managers bought out the Swiss financial services giant’s Australian wealth arm.