SYDNEY AUSTRALIA: Class Limited announced that Andrew Russell is stepping down from his role as CEO and Managing Director effective 16th February 2022. It may be mentioned here HUB24 Limited will acquire all shares in Class Limited.
To support a smooth transition Mr. Russell will be an adviser to HUB24 until 31 March 2022.
HUB24’s Director of Strategic Development, Mr. Jason Entwistle will be appointed as Interim CEO and Managing Director of Class reporting to Andrew Alcock, the CEO and Managing Director of HUB24 on implementation of the scheme.
Mr. Entwistle has held various pivotal roles that have contributed to the strategic growth of HUB24 since 2007 and is currently the executive responsible for the Group’s strategy. He has successfully led several acquisitions undertaken by HUB24 and over the last few months has been working with the team at Class to finalise this acquisition.
Given his extensive experience in financial services and strong track record of leading teams to deliver market-leading product solutions, Mr. Entwistle is well-positioned to lead the Class business through the transition period whilst a selection process is undertaken to appoint a permanent CEO and Managing Director.
During this time Mr. Entwistle will retain his responsibilities for the Group’s strategic development with the ongoing support of the broader HUB24 executive team.
Mr. Entwistle will work with the Class team, and across the broader HUB24 Group, to progress the development of additional strategies that leverage the combined capabilities of the Group to provide compelling, efficient and valuable solutions for new and existing customers.
Class will continue its strong focus on growth and delivering market-leading products and services for customers as a business unit within the HUB24 Group.
HUB24 Limited (ASX: HUB) is a company listed on the Australian Securities Exchange. The company consists of the award-winning HUB24 platform, HUBconnect business and Xplore platform. HUB24 offers advisers and their clients a comprehensive range of investment options, including market-leading managed portfolio solutions, and enhanced transaction and reporting functionality.