HUB24 names new chair as Higgins retires
HUB24 chair and non-executive director, Bruce Higgins, is to step down from the board after 11 years.
Higgins has been chair of the platform since October 2012 but will now take a career break for six months and retire from the board in November after its annual general meeting.
Taking over from Higgins will be Paul Rogan, a current non-executive director on the board since 2017. He is also chair of the audit, risk and compliance committee and a member of the remuneration and nomination committee.
Rogan has previously held senior roles at financial services companies such as MLC, National Australia Bank and Challenger.
He will work closely with Higgins before his departure to aid a smooth transition.
With Rogan stepping up to chair of the board, Rachel Grimes will take over as chair of the audit, risk and compliance committee.
Higgins said: “It has been a pleasure to work with the talented team at HUB24 during this period of strong growth in the business as funds under administration increased from $150 million to now over $80 billion, and revenue has grown at a compound annual growth rate of 62 per cent over the past decade.”
Rogan added: “On behalf of the HUB24 board, I would like to thank Mr Higgins for his remarkable leadership and commitment to the HUB24 group during his tenure, he leaves behind a strong legacy.
“I am looking forward to continuing to work with my colleagues on the board and the HUB24 executive team to deliver value for our customers and shareholders and position the company for future growth.”
Last week, the firm announced it will launch a new Discover offer, which will complement its existing Core and Choice offering, and be available from November. The idea behind this is to offer a solution for lower balance advised clients.
“This includes early stage wealth accumulators and later stage retirees with less complex needs. Discover, designed in conjunction with portfolio managers provides a streamlined selection of managed portfolios in a cost effective platform and investment solution and extends HUB24’s reach to this part of the market," it said.
“This new option, which aims to strengthen HUB24’s competitive position and support further growth, will be available in November and further details will be provided.”
AUTHOR
Laura Dew
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