Australian Ethical Investment has appointed a business development manager and a strategic manager as part of a restructure of its front-end team.
The fund manager appointed Adam Kirk to head the business development and client relationship team.
Kirk, who joined this month, comes from Australian Catholic Super, where he was the head of business development.
He also held sales roles with Skandia and Colonial First State.
The firm also appointed Paul Smith as strategy and communications general manager.
He has previously worked for property research and investment firm Ashton Rowe, where he was a director.
The appointments come after Australian Ethical in June lost two of its founders, James Thier and Howard Pender, who were with the firm since 1986.
The firm said the personnel changes were the result of a restructuring of the business sales, marketing and client services teams, the implementation of a new asset management system and the decommission of an old system, and the search for efficiencies.
"During the year a number of changes have been made to the business, leading to some redundancies and changes to people's roles," Australian Ethical chief financial officer Gary Leckie said.
"These changes have had an impact on staff morale in some parts of the business. This is being addressed.
"A new full-time human resources manager is providing considerable support in this regard."
Australian Ethical also brought in-house its superannuation call centre, which was previous run by Pillar Administration.
"We have made a number of improvements in the way in which we market and service our products," Leckie said.
"This has resulted in an almost doubling of our new client uptake on a monthly basis."
Australian Ethical reported net profit after tax over the 12 months to 30 June of $1.3 million, an increase of 25 per cent compared to last year.
The result was helped by a one-off acquisition fee of $651,000 from the Australian Ethical Property Trust in relation to the purchase of a Canberra property.
The fund also experienced one-off costs of $445,000 in relation to the job cuts.
Australian Ethical experienced net inflows of $21.6 million. Its super funds had $31.4 million coming in, while its managed funds experienced outflows of $9.8 million.
The firm's total funds under management stood at $644 million at the end of June, 4.9 per cent higher than last year.
