Sargon buyer names CEO, rebrands to Certes

Pacific Infrastructure Partners (PIP), the firm that bought Sargon, has announced the team to lead the rebranded organisation and the $50 billion in assets under trusteeship and supervision on its platforms.

Marcus Price, the former chief executive of Property Exchange Australia Ltd (PEXA), will serve as managing director and CEO for the former Sargon.

Price says his top priority is restoring confidence in the company after a difficult time. "We retain the conviction that investment in technology and a focus on innovation can drive efficiency and improve service levels and customer experience.

"It is noteworthy that collectively, the industry does poorly in member advocacy as measured by Net Promoter Scores, even compared to retail banking. We need to redress that and we wish to be a driving force behind creating a better industry."

Before joining PEXA in 2010, Price was a general manager for NAB, was an executive director for Dun and Bradstreet Australia, and the CEO of Veda Advantage Decision Solutions.

Price is joined by former federal Minister for Finance and Deregulation Lindsay Tanner, who will serve as independent chair, and Sue Thomas as 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."

PIP has announced they intend to rebrand Sargon to Certes Corporate, pending approvals. "The new brand Certes speaks to our commitment to customers, regulators and employees after a period of uncertainty within the business," said Price. "With the support of our shareholders, we now enjoy a very strong balance sheet that provides confidence, as well as a platform to continue to innovate our products. We go forward with a renewed sense of purpose and revitalised growth aspirations."