Mutual Trust CEO retires

Mutual Trust has confirmed the retirement of CEO, Tim Hammon, effective 31 July 2017.

The news follows an announcement by Mutual Trust and Myer Family Investments that, with due diligence complete, the agreement to combine Mutual Trust and the Myer Family Company (MFCo) is now conditional only on regulatory approvals.

Hammon has been replaced by former EY partner, Phil Harkness, who has been appointed CEO of Mutual Trust and CEO-elect of the enlarged group.

Commenting on the merger, Sidney Myer, chair of Myer Family Investments, said: "Myer Family Investments is delighted that the union of MFCo and Mutual Trust has reached this important milestone. MFI, and the Myer family, are very proud of the way MFCo has developed as a leader in the family office business over the last 25 years. Further, we are proud of the contribution that the MFCo team, past and present, have made to position the business for the future. The future looks exciting. The due diligence process has confirmed a strong alignment between our organisations and the prospect of a unique and compelling offer for clients."

Hammon will stay on as a consultant to the newly-merged group.