Investors Mutual retail head to depart

Wayne McGauley, the longstanding head of retail at Investors Mutual will depart the firm citing the need for change.

McGauley posted on LinkedIn that after 17 years, he decided it was time for a change and a refocus on a better work/ life balance.

"For the last 13 years, I have had the privileged position as head of retail at Investors Mutual ... I am proud of my passion and meaningful contribution to IML's growth," he posted.

"For those 13 years, I commuted weekly Brisbane to Sydney was an enormous commitment."

McGauley acknowledged Anton Tagliaferro, the firm's founder, and investment director, and Simon Conn, who joined on the first day that the firm opened its doors in 1998)

Before his long stint with Investors Mutual, McGauley spent two years at Advanced Asset Management as a state manager, three years at Deutsche as a business development manager, and with JBWere, also in business development.

"For me, I am presently helping IML with the transition over the next couple of months, then I'll look to take a break and refresh," he added.

"I have a natural energy to build something just as I did in my enjoyable and proud years at IML...stay tuned for what is next."