Iress announces management structure changes, job cuts
Financial planning software provider, Iress has announced changes to its operating strategic and pricing arrangements as a result of a strategic review.
The company has also announced a 10% headcount reduction and the divestment of its MFA and Platform business.
The new leadership team structure at Iress as of 1 July will be:
- Harry Mitchell – CEO, Wealth Management
- Jason Hoang – CEO, Trading & Market Data
- Paul Giles – CEO, Superannuation
- John Harris – CEO, Managed Portfolio
Iress chief executive, Marcus Price said at the core of Iress’ refreshed strategy is a strong focus on getting closer to our clients, and driving a higher level of accountability and transparency to drive market-leading results in each of our markets.
“We will do this by transitioning to our new team structure, enabling us to get closer to our client and drive higher performance through end-to-end accountability,” he said.
“Our analysis has confirmed that the core of the Iress business is incredibly attractive and exceptionally positioned at the centre of a thriving Australian wealth & trading ecosystem. Our ambition is to refocus on our clients in financial advice, trading & market data and superannuation by reinvesting in our core software and building the next generation of advice software, industry connectivity and data and analytics capabilities.”
“I’m confident Iress’ new organisational structure will strongly position us for our next growth horizon, with a program of clear and deliberate actions aimed at reinvigorating growth and value in our core businesses and delivering efficiencies that will improve our clients’ experience.”
And not one female on the management team. I guess they have dismissed the need to engage with the 20% female advisers (clients) in the profession???
My experience with Iress and X-Plan as a self-licensed practice principal, is that they are the most useless, unhelpful bunch of sub-standard fools that I’ve ever had the misfortune to work with. Service was non-existent, the costs were significant, and their response to my feedback was totally unprofessional.
Debbie, I agree with you, we really need to get more women into these places to provide much needed balance to management.
I’m all for balance management. Then the women can get sacked for being incompetent as well
Where’s your sense humor “thumbs down”
Or perhaps the level of competence would improve if they bothered to encourage quality women onto their team??!!!!