Generation Development Group (GDG) has appointed former Evidentia chief executive Peter Smith as an executive director.
Smith will join the board with immediate effect, and the firm said he has experience across wealth management, asset management and private wealth advice, both domestically and internationally.
He spent 14 years with NAB across London and Australia before founding investment manager Evidentia in 2018.
GDG acquired Evidentia in February 2025 to create a managed account provider with $25 billion in funds under management.
The merging of the two firms, GDG said in an ASX statement, provided a “leading end-to-end investment management and managed account solution for licensees, financial advisers and their clients with minimal overlap in client bases, product offerings and target markets”.
Rob Coombe, GDG chairman, said: “I am delighted to welcome Peter to GDG’s board and look forward to his wealth of experience and expertise complementing the company’s strategic objectives.”
Last year, former director of research house Lonsec, Christine Christian, joined the GDG board as an independent non-executive director. GDG formerly held a 37 per cent stake in Lonsec but opted to acquire the remaining shares in 2024.
Speaking at the time, Coombe said: “This acquisition of Lonsec will provide GDG with full ownership of a highly strategic asset in an attractive segment of the wealth management sector. We believe that Lonsec is well-positioned for future growth supported by strong industry and regulatory tailwinds and is expected to provide access to resilient recurring revenue streams from its core research offering.”
The GDG board currently consists of Coombe, Christian and non-executive directors Bill Bessemer and Giselle Collins.
