Former IOOF chief executive Tony Robinson will take on the role of managing director of a combined Professional Investment Holdings (PIH) and Centrepoint Alliance group if a proposed merger is approved.
The proposed merger between the parent company of dealer group Professional Investment Services (PIS) and the listed insurance funder was announced late last week.
Under the terms of the all-scrip offer, PIH would become the wealth management arm of Centrepoint Alliance, with PIH shareholders holding 80 per cent of the post-merger entity.
The proposed merger is conditional upon due diligence and would be implemented through a scheme of arrangement requiring the support of both companies' shareholders, a statement from PIH said.
Commenting on the deal, Centrepoint Alliance chairman Rick Nelson said: "The current environment, together with the benefits of being part of a broader listed business, provides a strong platform for growth in the changing wealth management industry."
"Both PIH and Centrepoint are focused on opportunities to expand our businesses and we look forward to the opportunity of creating a stronger, more diversified financial services group."
PIS chief executive Robbie Bennetts and company managing director Grahame Evans were unavailable for comment.
Robinson, the current managing director of Centrepoint Alliance, would not comment on further details of the merger.
Robinson left IOOF in 2009.
