Iress announces CEO succession
Financial services firm Iress has appointed Andrew Russell as group chief executive and managing director, taking over from Marcus Price.
In an ASX statement, Iress shared that Russell will commence the role in November of this year as the firm enters its next strategic phase, which will be intensely product and client-focused.
Price has been with the company since 2022 and will step down from the company on 4 September 2025, with Iress’ CEO of global trading and market data Geoff Rogers to serve as acting CEO until Russell begins his tenure later this year.
Russell was previously CEO at Bravura Solutions but announced in April that he would be stepping down after almost two years.
He had been praised by commentators during his tenure which has seen the Bravura share price rise 61 per cent over the past year. Upon taking over the role, Russell embarked on an aggressive cost-cutting process which aimed to reset and energise the business, as well as accelerate financial performance via rebuilding client trust and shareholder reputation, building a product-focused capability, and delivering a lower cost to serve.
Commenting on the appointment, Iress chair Roger Sharp said Russell’s leadership will guide the firm into its next chapter.
“Andrew is an experienced CEO with a proven track record in delivering shareholder value and building trusted relationships with clients, investors, and employees,” said Sharp.
Sharp commended Price for his integral part in the business’s recent transformation, which involved streamlining operations and divesting non-core businesses to retire debt.
“Marcus has delivered a pivotal turnaround for Iress, sharpening our focus, divesting non-core businesses, and restoring the balance sheet. On behalf of the board, we thank him for his service and wish him the best for the future,” he said.
Russell brings over 25 years of experience in Australian and international financial services and software companies. He previously held executive positions at wealth technology providers Class, where he oversaw its sale to HUB24 in 2024, and Bravura Solutions, where he was instrumental in returning the global platform provider to profitability and preparing it for sustained growth.
Russell said he is excited to join Iress at a pivotal moment not only for the business, but also for the broader wealth technology sector.
“Iress has achieved a market-leading position by developing trusted technology platforms and longstanding client relationships, and my focus will be to capitalise on the strong position Iress finds itself in following the strategic transformation program the board and management team have led over the past two years,” he said.
“I see enormous opportunities to innovate, grow, and deliver great value in the years ahead.”
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