Evans & Partners executive chairman David Evans to step down

The stockbroking firm will bring in EY Oceania chief executive Tony Johnson as it rebuilds following the Dixon Advisory scandal.

David Evans will step down as executive chairman of Evans & Partners – but remain chairman of the stockbroking firm.

Tony Johnson, former chief executive EY Oceania, will be appointed executive director effective June 1.

Mr Evans said he was “excited by the opportunities that lie ahead” and said it was the right time to continue the transition” of the business.

Mr Evans founded and led Evans & Partners in 2007, taking on the role of executive chairman of the business in 2017.

He exits the role after Evans & Partners’ disastrous foray into business with Dixon Advisory, which slipped into administration after directors moved to head off mounting losses from fines and court action.

Evans & Partners inked a deal to merge with Dixon Advisory in September 2016, renaming itself Evans Dixon.

But Dixon Advisory’s sales tactics, steering clients into poor performing funds, earned it the attention of class actions firms alleging it provided conflicting and misleading advice.

DAVID ROSS