Grant Hackett has been promoted to chief executive of Generation Development Group (GDG), which acquired Lonsec earlier this year.
From 1 January, Hackett will move from being chief executive of subsidiary Generation Life to GDG head with responsibility for continuing to support the group’s aspirational future growth plans.
In addition, Rob Coombe will move from being non-executive chairman to executive chairman in order to work closely with Hackett on key strategic initiatives for the next 12-24 months. The pair have worked closely together for seven years.
The day-to-day operations and running of the Group will continue under Hackett’s leadership.
Replacing Hackett at Generation Life as CEO and managing director will be Felipe Araujo who is promoted from general manager of sales, marketing and operations, having joined Generation Life in 2017. His remit will be to continuing the firm’s success and elevate its brand as a market lead in tax-aware investing, intergenerational wealth and retirement income solutions.
On his appointment, Hackett said: “Being appointed as CEO of Generation Development Group is an exciting challenge and shows the commitment we have for the group in 2025. My goal is to drive aspirational growth by leveraging our innovative mindset and unwavering commitment to our investors and shareholders.”
Araujo said: ‘I am thrilled to be stepping into the role of chief executive and managing director at Generation Life. Over the past five years as General Manager, I have witnessed our incredible potential to innovate and grow. I am excited to lead our talented team as we continue to drive forward and deliver exceptional value for our investors.”
