Listed litigation funder IMF will take on far more cases following the appointment of an executive chairman, IMF managing director John Walker said.
Robert Ferguson will run the day-to-day operations of IMF to free up time for the two existing directors, John Walker and Hugh McLernon.
IMF, which has offices in Sydney and Perth, is known for backing multi-million dollar lawsuits on behalf of consumers and investors.
Current cases include action against AWB, Challenger Managed Investments and the Westpoint property group.
Litigation involving security fraud, contract breaches and consumer protection in both equities and debt markets will be increased, Walker said.
Walker said until now three quarters of his time has been taken up in management so the appointment will help him and McLernon grow IMF's investment portfolio.
"Hugh and I are going to focus more on opportunities," Walker said.
A landmark High Court decision last year involving litigation against tobacco wholesalers has given the green light to increased litigation funding, particularly class actions.
"There is more demand as a result of the High Court decision," Walker said.
"People are more comfortable with [litigation]...it's becoming more institutionalised."
Ferguson was previously a non-executive chairman for IMF. He will review IMF's expansion plans within Australia and the United Kingdom.
He has served on the boards of Vodafone Australia, Westfield Holding Limited and was chief executive of Bankers Trust Australia.
