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MDS Financial hires IOOF exec

MDS Financial Group has appointed a former IOOF executive to head up its marketing and distribution team.

In a statement to the ASX, MDS Financial said it hired Michael Carter as the executive director for its marketing and distribution division.

 Prior to joining MDS Financial, Mr Carter was the managing director of IOOF Holdings subsidiary Bridges Financial Services where he had the responsibility for its stockbroking business, adviser network and funds under advice.

“Mr Carter has also served on a number of other joint venture boards and brings expertise in the areas of corporate governance, legal and compliance, financial management, marketing and strategic partnering,” the statement said. 

“He is a member of the Australian Institute of Company Directors, the Association of Financial Advisers, the Financial Planning Association, and the Australasian Mutuals Institute."

MDS Financial has also appointed Delan Pagliaccio as the head of its retail and institutional broking operations. 

“Mr Pagliaccio was previously head of derivatives trading operations at E*Trade Australia Securities Pty Ltd for almost 10 years and was responsible for managing one of the largest retail derivative books in Australia, managing order execution, real-time risk and margin calculations,” the statement said.


MDS Financial chief executive and managing director Scott Beeton pointed out that following the acquisition of Sequoia Financial Group the company is now “well placed” to capitalise on growth opportunities.

“Attracting executives that have considerable sector experience and a track record of building businesses in the wealth management sector is key to realising this growth,” Mr Beeton said.

“Both Michael and Delan respectively bring considerable experience to MDS and have well-formulated business plans that will contribute to the future growth of MDS."