Netwealth names new chair

Netwealth has named existing director Tim Antonie as its new chair following the announcement that Jane Tongs will retire next month.

Antonie joined the Netwealth board in 2015 following an executive career as a chartered accountant at a variety of firms including PwC. He was a managing director with UBS Investment Bank and has significant experience in mergers, acquisitions, and restructuring.

Antonie said it's an honour to continue the work Tongs and the company began. "The Company has achieved great success through the combination of strong governance and leading operational and strategic execution. We expect the Australian wealth industry will continue to experience significant consolidation and transition in the coming years. Netwealth is well placed to continue to prosper from these changes and I look forward to working with the Netwealth board and management team for the benefit of its investors, shareholders, employees, and other stakeholders."

Netwealth also announced that Kate Temby will join the board following Tongs' departure.