The former chief executive of a managed accounts group will come on board to head the adviser research house in two months’ time.
In a statement, Lonsec said it had appointed Mike Wright – most recently CEO of Xplore Wealth before its merger with HUB24 in March – as the new head of the business.
“Mike’s unique blend of leading teams to develop and implement client-oriented growth and service initiatives along with his strong industry relationships and knowledge were exactly the leadership attributes that we were seeking,” Lonsec chairman Mark Spiers said.
Prior to his role at Xplore, Mr Wright had held a number of senior roles across Westpac and BT, including general manager of BT Financial Advice, Queensland general manager of Westpac Financial Planning and NSW manager of premium banking in Westpac’s retail division.
Commenting on his appointment, Mr Wright said the group’s client-oriented business philosophy was what drew him to the role.
“By continuing to stay close to our clients Lonsec has enjoyed significant growth across all its business units and I am excited to be able to work with the great team at Lonsec to continue to build on this,” he said.
Lonsec added that Mr Wright would join the team on 5 July.
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