Sargon buyer makes leadership appointments, announces rebrand

Sargon buyer Pacific Infrastructure Partners (PIP) has announced the new CEO and chair for the new entity, following the completion of the acquisition of key operating entities and assets of Sargon.

PIP has also announced they intend to rebrand to Certes, pending approvals.

Lindsay Tanner, former federal Minister for Finance and Deregulation, as well as a current director at Suncorp, will serve as independent non-executive chair for the organisation.

Marcus Price, who has been acting as a strategic adviser to PIP, will be the inaugural group CEO and managing director.

Sue Thomas has also joined the board as a non-executive director.

"To have secured either Lindsay, Sue or Marcus int heir respective roles would be a cause for celebration but to have all three join us is a genuine coup," said current PIP chair Teddy Wasserman. "In combination, they bring all the desired skills and experience to help us drive our ambitions to innovate and be a genuine leader in the arenas in which we compete."

During Tanner's tenure in government, he was responsible for regulatory reform in financial services and was the Minister for the Future Fund during the GFC.

"A robust and trusted superannuation industry is essential for the prosperity and advancement of all Australians," said Tanner. "Like every part of the economy, given the unfolding impact of Covid-19, the sector is facing challenges. While retaining an absolute focus on member outcomes, it's clear that new entrants and associated investment can drive innovation and reform to improve efficiency, governance and accountability.

"With a new board, executive team, and strengthened balance sheet, we will be a responsible and trusted partner and service provider.

"Our board is committed to delivering on this as part of our purpose and to continue being a leader in technology that lowers costs and raises the bar for transparency."

The former Sargon, now Certes, has $50 billion in assets under trusteeship and supervision on its platforms.