Clime IM replenishes board after director exits

A week after announcing the resignation of three board members, Clime Investment Management has announced four new appointments, two of them lawyers.

Announcing the appointments to the Australian Securities Exchange (ASX) the company referenced continuing on its path of a strategic reset in the wake of having sold Madison Financial Group to Infocus Wealth Management.

As well, Clime IM managing director, Michael Baragwanath said that he and the company’s shareholders “are in complete alignment that every expense in the business needs to be reviewed and reduced where possible”.

“No area of the business escapes this scrutiny,” he said. “We are committed to ensuring Clime is both a great investor for clients and a great investment for shareholders. This requires a high-performance and cost-effective team at every level”.

The three board appointments announced to the ASX are:

Tax lawyer, Henry Davis who has been appointed to the board as a non-executive director, Clime’s current Chief Investment Officer, Will Riggall who will join the board as an executive director, South Australian-based lawyer Angela Wang who joins as a non-executive director.

As well as the board appointments, the company has appointed financial adviser, Matt Rencken to take on the role of Principal Adviser for Clime Private Wealth.