Snowball gets ready to roll
Snowball has recruited former St George executive Carl Scarcella as general manager of operations as it prepares to unleash its online financial services product on to the market.
In the newly created position, Scarcella will oversee product development, compliance, finance and customer services areas. Prior to joining Snowball, Scarcella spent a lengthy term with St George's investment services business.
Snowball director Bruce Pellow says Scarcella's appointment comes at a pivotal time for the group.
"We're still building up our staff numbers. We're almost at a product launch stage," he says.
Pellow says the founding directors of Snowball knew Scarcella well from his time at St George, as Scarcella was part of the St George team bidding for Sealcorp when it was sold three years ago.
Pellow was one of the key executives of the Sealcorp business that left the group in the past few years to develop the Snowball concept. Others to follow include George Haramis, Terry Williams and Cathy Duncan.
Recommended for you
Retail investment into private credit funds could surpass that of sophisticated investors, according to ASIC, but the regulator admits it is unsure how and where these individuals are first being introduced to the vehicles.
With the high cost of advice keeping young Australians locked out of advice, a fintech provider has said digital advice is key for licensees to capture this unadvised demographic.
ASIC chair Joe Longo has announced he will step down at the end of his term, departing the corporate regulator in May 2026.
When it comes to the phase-out of AT1 bonds, Schroders fixed income manager Helen Mason has urged financial advisers to sell up sooner rather than later or risk capital losses.