Darren Pettiona steps down as Investorfirst CEO
Darren Pettiona has resigned as chief executive of Investorfirst in order to focus on the HUB24 investment platform, the company board has announced.
The Investorfirst board stated it supported Pettiona's decision to step down "as a logical move given the strong growth/transition phase that HUB24 is embarking upon" and announced David Spessot as his replacement.
Pettiona will now assume the title of head of HUB24 and advisory group relationships, whereby he will be responsible for strategic partnerships with dealer groups and other financial institutions.
"This role change will allow Pettiona to focus on accelerating HUB24's commercialisation, rather than have responsibility for the broader group operations, including stockbroking and administration," the board stated.
He will remain an executive director of the Investorfirst board, and continue being a substantial shareholder of the company.
Other executive changes within the group include the appointment of Neil Sheather as head of stockbroking and Duncan Tebb as head of operations, while Mark Mansfield takes the position of head of compliance.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
