Financial services business Generation Development Group (GDG) has appointed Andrew Mellor as chief financial officer.
He will replace Terence Wong who will depart at the end of the current financial year in order to support an orderly transition.
Wong has worked at GDG since 2018, having joined from seven years at Energy Australia. He is also chair of the audit, risk and compliance committee at Lonsec which is part of GDG.
During his tenure as CFO, GDG listed on the ASX.
Instead, the firm has appointed Mellor who will take over from 2 March, joining from gambling firm PointsBet Holdings where he was CFO. He previously spent 20 years at Credit Suisse across London, New York and Hong Kong across APAC equity and credit roles.
Grant Hackett, GDG chief executive, said: “Terence has been a valued member of GDG’s executive team since 2018. Over this period, he has played a pivotal role in driving substantial shareholder value, supporting strategic initiatives such as the acquisition and integration of Lonsec and Evidentia and contributing to the growth of the group’s subsidiaries GenLife (investment bonds) and Evidentia (managed accounts) into scalable, capital-light platforms.”
Mellor commented: “I am delighted to join GDG at this important stage of its growth. I look forward to working with the board, executive management, the wider GDG team and stakeholders to support the company’s delivery of its strategic priorities and financial performance.”
Last month, Evidentia Group, a wholly-owned subsidiary of GDG, entered into a binding agreement to acquire consulting firm Encore Advisory Group. Founded in 2002, Encore is an Australian consulting firm based in Sydney that specialises in helping financial advice, accounting and mortgage broking businesses achieve scalable growth.
This will see its management team rolled into the firm, with Brendan Johnson heading up a new business consulting division and Mark Zaglas continuing to lead Encore.
Through this transition, the firm said that the Encore brand and its intellectual property will continue to be supported and enhanced to ensure continuity for clients while also allowing ongoing innovation on the firm’s proven frameworks and consulting expertise.
