Managed Accounts Holdings makes new appointment

In a statement, the business said it had also appointed Ms McAlister as the chair of its ARC risk and compliance sub-committee of the board, adding that her past experience will assist in the business’ plans to acquire a registrable superannuation entity (RSE).

“We are delighted that Pamela has joined our board as a director at what is an exciting time for our company and a period of significant change for the financial services industry,” said Managed Accounts Holdings chairman Don Sharp.

The statement said Managed Accounts Holdings is “well advanced” in the process of acquiring an RSE and Ms McAlister “will be invaluable if this transaction proceeds”.

“Pamela’s deep expertise in financial services law, governance and industry regulation will be a critical asset to our business,” Mr Sharp said.

“Her counsel and input will be key in how we service advisers, brokers and fund managers looking to future proof their business models and operations as the shift to non-unitised wealth management services continues.”

Prior to her work with Mercer Legal, Ms McAlister held positions with ASIC, Hall and Wilcox, Australian Unity, and Greenfields Lawyers, the statement said.

Last week, Managed Accounts Holdings reported a net loss for its 2017-18 financial year, noting that expenses related to the acquisition of Linear had weighed on the business’ profitability for the 12-month period.