Lonsec names chief

The Lonsec Group has confirmed former Xplore Wealth chief Michael Wright as its new CEO.

Wright spent just under two years with Xplore Wealth, seeing the organisation through its acquisition by HUB24 earlier this year. During his time with the organisation, he focused on building a leadership team and transforming the values and culture of the organisation to increase staff retention, returning Xplore to profitability.

Before his time with Xplore, Wright was the GM of BT Financial Advice and held several senior management roles with Westpac including GM of retail banking in Queensland. He was also the NSW GM of retail banking for ANZ.

Lonsec chair Mark Spiers 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.

Said Wright of his new role, "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's appointment will take effect in early July.