The former head of investment lending at Colonial Geared Investments, understood to have been let go by Commonwealth Bank as its involvement with Storm Financial unravelled, has been made head of retail distribution at Wellington Management Company.

John Clothier joined the Sydney office of the Boston-based manager, which offers global growth and value strategies in Australia, within the last few weeks after departing Colonial Geared Investments late last year.

Commonwealth Bank refuses to comment on former employees, and would not confirm whether Clothier’s departure had been related to the margin lending division’s ultimately disastrous involvement with the failed Storm Financial dealer group.

Wellington Management Company’s institutional distribution in Australia is handled by Whitney Drayton.

Comment was being sought from Wellington’s head office at presstime.


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