IWL completes Sanford integration, appoints full-time exec

Software providerIWLis close to completing the integration of online broking businessSanford Securitiesand has formalised the role of integration consultant Geoff Reilly within the organisation.

Reilly, who now becomes executive general manager - broking solutions, had been operating as a contracted integration consultant for the acquisition of Sanford since May and coordinating integration plans to merge the operations of the two businesses.

According to Reilly, who was previously head of JDV atHartleys Limited, the business is in the “final throes” of integration, with most senior management changes completed, and a full organisational structure to be finalised in the coming weeks.

“Most of the integration on the IWL side was in support areas such as finance, accounting, and human resources, while at the Sanford level it was looking at revenue opportunities, reducing cost levels and tidying it up,” Reilly says.

While there is no change to the retail branding of Sanford in the marketplace following the integration, the business is known internally as ‘broking solutions’.

Reilly has also appointed several senior managers with significant industry experience in multi-applicable solutions to comprise the “core” of his team, however he declined to name them as they are moving to IWL from competitor firms.

One of the new recruits is a specialist product manager, whose role will involve identifying additional products required to round out the Sanford suite of products for the retail and wholesale markets.

Reilly has already suggested margin lending and cash products will be among these additions.

On Reilly’s appointment, IWL chief executive Otto Buttula says, “His record of achievement and ability to manage change and implement strategic plans gives us all confidence that the broking solutions business will become a major contributor to IWL earnings while also enhancing the career prospects of its direct employees.”