WT Financial Group, the Australian Securities Exchange-listed parent company of Wealth Today, has announced that Michael Harrison, the non-executive chairman and a substantial shareholder of Sentry Group, has been appointed as its non-executive director.
At the same time, WT’s executive director, Chris Kelesis, would move to a non-executive role from 1 August, 2021.
The changes and board appointments followed the recent acquisition of Sentry Group by WT Financial Group which was announced last month and finalised on Monday.
Harrison had over 30 years of experience and in 2008 was crucial in creating the ASX-listed Shadforth Financial Group where later became head of advice and which was later acquired by IOOF for around $650 million.
Prior to that, Harrison co-founded independent owned advice business Heraud Harrison.
Additionally, he is executive chair of services consulting firm, Peloton Partners, and chairman of Mainstream Aquaculture Group, a breeder and supplier of barramundi.
“Michael brings an incredible depth of business acumen to WTL, along with an innate understanding of advice practice management and broad experience in mergers and acquisitions,” WTL’s managing director, Keith Cullen, said.
Commenting on his fellow founding director Kelesis’ move, Cullen said: “Chris has been with us through every step of our journey, from the outset of commercial operations in 2011 as a start-up, to our listing in 2015 and then strategic pivot to a B2B focused business in 2017.
“Our operations may now look very different to what they did just a few years ago, but it is the experience of those years prior, that Chris played a key role in, that is enabling us to succeed today.
“So, while the settlement of the acquisition of Sentry Group charges us with great excitement for the future, it is with lament that we advise that Chris has accepted redundancy from his executive duties. We are delighted however that he has agreed to continue to contribute to our future growth as a non-executive director.”