Bombora Advice has announced its chair Kevin Martin will be stepping down after almost a decade, and the licensee has looked internally for his successor.
Martin has served as chair at the AFSL since January 2016, but will step down at the start of the new financial year.
In his place, founder and current managing director Wayne Handley will become the executive chairman, while Niall McConville, who has sat on the board since April 2024, will step up as managing director.
Handley said: “It is a privilege to be appointed chair, and with the support of the board and senior team, I am committed to building on Bombora’s marketplace reputation and presence.
“These are exciting times and the strategic business opportunities for Bombora are immense. I’m looking forward to positioning the organisation for continued success and growth in the future.
“Niall was responsible for numerous functions including sales, new business, underwriting, claims, and service – and played a role in helping to shape the future of financial advice in Australia.
“A passionate advocate for more consumer access to quality advice, he is committed to financial services diversity, including greater representation of women in advice and pro bono financial services for people facing hardship.”
McConville, who joined Bombora in a consulting capacity in October 2023 and joined the board in April 2024, has a risk background with 13 years at TAL and a role as chief insurance officer at Fidelity Life in New Zealand.
This is a particular niche for Bombora which operates a network for risk-focused advisory business across Australia, having originally been founded in 2013. It also has established relationships with professional services firms to ensure their clients can have their risk insurance needs met.
McConville said: “My focus will be the next phase of Bombora’s strategic journey that will include enhancing operational efficiency, capitalising on growth opportunities in the life insurance sector, and improving both adviser and client experiences.”
Last year, Bombora appointed David Mounsey as its business growth and development manager, a newly created role as it looked to strengthen its risk offering.
