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Xplore Wealth Ltd appoints New Chief Executive Officer

08 Aug 2019
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Xplore Wealth Ltd (Company or XPL) (ASX: XPL) has announced the appointment of Michael Wright as Chief Executive Officer (CEO) as the Company embarks on a new stage of its growth and development plans. Mr Wright’s employment with the Company will commence on 9 September 2019.

Mr Wright joins the Company following an extensive executive search.

Formerly General Manager for Bank Financial Advice at BT, Mr Wright led and implemented the strategic direction of the business to promote growth through the provision of quality, compliant personal advice.

“The opportunity to lead Xplore Wealth Limited during this formative time for the Company is genuinely exciting as the wealth management and financial services sector is transforming, creating growth opportunities”.

“The Board has embarked on a targeted programme to grow and expand Xplore Wealth. I feel my experience and knowledge is well aligned with the qualities that Xplore Wealth requires to lead this expansion.  I also believe a strong business relies on empowering its people to bring to life a clear direction and vision, resulting in tangible benefits which will create positive results for its clients. I am energised to achieve these results by leading the highly capable team at Xplore Wealth, for the mutual benefit of the Xplore Wealth business, its clients and shareholders” said Mr Wright.

XPL has previously reported three corporate acquisitions, a broadening of the products and services that XPL offers and an increase in funds under management from $1 billion at time of listing (June 2014) to $13.5 billion.

Non-Executive Chairman Mr Peter Brook said: “The Board set a new direction and agenda for the Company, starting with the rebrand to ‘Xplore Wealth’ and now the establishment of a fresh, high calibre leadership team. We are excited to welcome Mike as Xplore Wealth’s new CEO to lead this new era and to work together to deliver on the full potential of the Company and its refreshed product offerings.  The Board has set a realistic agenda for growth for the Company and looks forward to the journey ahead.”

Xplore Wealth is also pleased to advise that a further announcement regarding the appointment of the new Head of Distribution and Marketing at Xplore Wealth is imminent.

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