Darren Pettiona steps down as Investorfirst CEO
Darren Pettiona has resigned as chief executive of Investorfirst in order to focus on the HUB24 investment platform, the company board has announced.
The Investorfirst board stated it supported Pettiona's decision to step down "as a logical move given the strong growth/transition phase that HUB24 is embarking upon" and announced David Spessot as his replacement.
Pettiona will now assume the title of head of HUB24 and advisory group relationships, whereby he will be responsible for strategic partnerships with dealer groups and other financial institutions.
"This role change will allow Pettiona to focus on accelerating HUB24's commercialisation, rather than have responsibility for the broader group operations, including stockbroking and administration," the board stated.
He will remain an executive director of the Investorfirst board, and continue being a substantial shareholder of the company.
Other executive changes within the group include the appointment of Neil Sheather as head of stockbroking and Duncan Tebb as head of operations, while Mark Mansfield takes the position of head of compliance.
AUTHOR
Staff Writer
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
