The former CEO of Ovato, James Hannan, has listed his Sydney mansion for sale with a price guide of $15 million.
According to a report in the Sydney Morning Herald, the five bedroom and four bathroom home in Vaucluse was purchased for $12 million in 2023 after selling their $17 million home in Bellevue Hill.
James Hannan, son of Michael Hannan, is currently the CEO of SBM – an independent full-service marketing agency based in Sydney.
James Hannan was appointed to the role in July this year to ‘elevate the company’s market presence’ and now works alongside his brother Ben Hannan – who was recently promoted to the role of chief sales and marketing officer overseeing sales and brand awareness.
Ovato was formed through a mega-merger between the Hannan family owned IPMG and PMP Ltd in 2017. Ovato entered voluntary administration in July 2022.
IVE Group paid $16 million to purchase the Ovato business in September 2022. At the time, IVE was generating $750 million and the deal ensures critical web offset printing capacity remained for major magazine and catalogue businesses in Australia.
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