Lonsec appoints new CEO

Ratings house Lonsec has appointed former Xplore Wealth chief executive Mike Wright into the same role, effective from 5 July, 2021.

He had left Xplore Wealth in April, which was acquired by HUB24 via a Scheme of Arrangement, completed on 2 March, 2021.

Mark Spiers, Lonsec chair, said, “Mike's unique blend of leading teams to develop and implement client-oriented growth and service initiatives along with his strong industry relationships and knowledge were exactly the leadership attributes that we were seeking.

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“By continuing to stay close to our clients Lonsec has enjoyed significant growth across all its business units and I am excited to be able to work with the great team at Lonsec to continue to build on this.”

Wright had also worked for Westpac/BT Group where he held senior executive roles with Westpac's retail and business banking, and was state general manager of Queensland before leading the Advice business at BT.

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He's get very small shoes to fill. We all miss Charlie's warmth and humility.

What a disgraceful appointment. Wight drove Westpac/BT into the ground and mislead Advisers in his wake. He should be run out of the industry. Every Australian Adviser should boycott Lonsec because of this appointment.

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