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STRUCTURAL CHANGE: Graeme Yukich pictured earlier this year with Grant Vernon, who has since left the role of chief executive. Photo: Grant Currall

Entrust, Vernon part ways

FINANCIAL planning and investment group Entrust Private Wealth Management has parted ways with its chief executive, Grant Vernon, after backing away from expansion plans and, instead, deciding to consolidate the business.

Founder Graeme Yukich confirmed that Mr Vernon, former boss of printing franchisor Snap Group and well-known football umpire, had left the operational role less than a year after being recruited to run the business.

Mr Yukich said the appointment had been made when Entrust was considering an expansionary phase but it ended up pulling back from those plans because of the market turmoil earlier in the year.

Just after Mr Vernon’s appointment in February, Entrust announced a merger with Finovia, a Melbourne-based funds manager backed by the private investment arm of the Wyllie family, which would have doubled Entrust’s funds under administration to about $1 billion.

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