Diamond steps down as Euroz chairman

Long-serving chaiman Peter Diamond has announced his retirement from stockbroking firm Euroz.

Mr Diamond has been an executive director and chairman of Euroz for 13 years, and will be succeeded by current managing director Andrew McKenzie.

“I look forward to maintaining a strong business relationship with Euroz in the future,” Mr Diamond said.

“I leave the company in excellent shape with a strong balance sheet with $123 million in cash and with group companies having paid $236 million in fully franked dividends over the last 13 years.”

Mr McKenzie paid tribute to Mr Diamond, saying he was the driving force behind the success of the group’s Westoz Funds management business.

“His vision to build a significant group balance sheet has given us both leverage and stability in both difficult and good markets and has differentiated us from the majority of other broking models,” Mr McKenzie said.