Westpac tech exec joins Lonsec

In a statement, Lonsec said it had appointed Kevin Brennan to the permanent position.

Mr Brennan, who had been acting as chief information officer temporarily on a contract basis since April, had also held previous roles as head of technology for advice, investments and private wealth at Westpac and head of technology for investments and equities, also for the major bank.

The news comes following new Lonsec chief executive Mike Wright stepping into the role from a previous position at Xplore Wealth.

Mr Wright, whose appointment was announced in May, said the company was “fortunate to be in a strong position to continue to honourably help advisers, managers and investors with insights and solutions to help them navigate the immense challenges that many of them face and share in common”.

Mr Wright added that he had set a professional target of meeting more than 100 employees, key partners and clients within the first 100 days in his position.

In a further update, Lonsec said it had recorded $1 billion in funds under management growth for its managed account offerings from October 2020 to June 2021, while recently adding sustainable managed account offerings to Netwealth and HUB24.