Madison boss to lead Clime

Annick Donat is set to become the company’s CEO, to commence from 1 May.

Ms Donat brings a reported 30 years’ experience in leadership roles, with her most recent title being CEO of Madison Financial Group for three years, before Clime acquired the business last year.

Prior to being chief of Madison, she was head of licensee development at BT Group Licensees, Westpac.

She is also chair of the Financial Planning Association licensee committee.

Ms Donat has replaced Rod Bristow, who departed Clime in November after two years at the helm. He has since become the CEO of venture capital group Investible.

Directors Brett Spork and Neil Schafer had been joint acting CEOs since Mr Bristow left the group. 

Incoming Clime chair and founder John Abernethy commented: “Since the acquisition of MFG, Annick has displayed a deep understanding of Clime’s business and is expertly positioned to drive our next phase of growth and strengthen our offering to our investor clients and financial advisers.

“Annick brings a diverse skillset spanning corporate governance, product management and distribution, wealth advice, licensee services and operations. She has the complete confidence of the board in continuing our proud legacy of empowering our clients through offering expert financial advice and investment solutions.”

Clime reported Ms Donat had been key to the implementation of its streamlining project, simplifying operations and reducing costs. Ms Donat is expected to further accelerate the scheme in her reign.

Her remuneration package will contain a fixed salary of $375,000, including superannuation and an immediate issue of 400,000 Clime shares under the Employee Incentive Scheme (Clime shares were valued at 88 cents on Monday afternoon).

Ms Donat will also be entitled to short term incentives, in the form of an annual cash bonus if she makes her targets. The maximum short-term bonus is $200,000 per annum.