Jaime Johns

Mason Stevens Group Limited is pleased to announce the appointment of Jaime Johns as a Non-Executive Director to its Board of Directors. With extensive experience in financial planning and wealth management, Jaime brings over two decades of knowledge and expertise to the role.

Ms Johns’ career began in fee-for-service financial advice practices, providing her with invaluable insights into the significance of trust and the holistic nature of financial advice. She understands the pivotal role that advisers play in their clients’ lives and the importance of taking a comprehensive view to support them in delivering exceptional advice experiences. Having led Licensee and Private Wealth businesses through transformative periods, her experience extends across advice, governance, product development, and distribution.

“We are thrilled to welcome Jaime to the Mason Stevens Board,” said Andrew Walsh, Chair of Mason Stevens. “Jaime’s appointment brings deep wealth management experience to the Board, and we believe her appointment will strengthen and continue to support the growth of Mason Stevens.”

Expressing enthusiasm about joining Mason Stevens, Jaime Johns stated, “I am delighted to be appointed as a Non-Executive Director for Mason Stevens. The business’ commitment to strong partnerships with advice firms leveraging their wealth platform and practice efficiencies makes their offer truly exceptional. I am looking forward to collaborating with the Board and contributing to the continued success and growth of the business.”

Jaime’s appointment further strengthens Mason Stevens’ Board following the appointment of Andrew Walsh as Chair in February 2023, as the business enters an exciting new phase of accelerated growth. The business remains committed to providing leading platform functionality, building genuine partnerships with its clients, and unlocking new growth possibilities for advice practices.

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Mason Stevens Chief Executive Officer Tim Yule welcomed the appointment, “Andrew brings with him nearly three decades’ experience in financial services, including 13 years at the helm of ASX listed company Iress, leading the firm to a multi-billion dollar market capitalisation during his successful tenure.”

“Andrew’s background spans from start-ups through to corporate growth, product innovation and technology, strategy, global M&A and listed markets. I’m confident this deep level of expertise will further strengthen the strategic direction of the Board, bringing a fresh perspective and additional critical thinking as we enter an exciting new phase for our business.”

Newly appointed Andrew Walsh said, “Mason Stevens is embarking on a period of accelerated growth, and I’m looking forward to playing a role in endorsing and championing the strategic direction of the business.”

“Despite a turbulent year in global financial markets, Mason Stevens has achieved record growth in revenue and funds under management and administration, by providing its high performing and innovative platform with investment support and service to financial advisers and their end clients. I look forward to bringing my leadership experience across technology and financial services to provide ongoing strategic counsel to support Mason Stevens’ continued growth,” Mr Walsh said.

Mr Walsh thanked current Non-Executive Director Steve Rickwood, who stepped in as interim Chair in April 2022, following the sudden passing of long-standing Chair Pat Handley.

“I would like to extend my sincerest gratitude to Steve, who has been with Mason Stevens for over a decade, and has led the Board with a steady hand through a challenging period,” said Mr Walsh.

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Following an extensive search open to both internal and external candidates, Iress also announced the appointment of Roger Sharp as a non-executive director and chair-elect. Mr Sharp will commence his role as non-executive director effective today.

Mr D’Aloisio said: “I am a firm believer in Board and chair renewal and after more than eight years as a director and the past six years as chair, this is the right time both for me and for Iress to step down. Being director and chair of Iress has been a privilege and I am confident that Iress will continue to adapt and grow in the years ahead. I thank my fellow directors and management for their work and support and all of the dedicated team at Iress. I will miss them greatly.

“I am pleased to welcome Roger Sharp as non-executive director and chair-elect. Roger brings 35 years’ experience in markets, technology and governance. He has broad international experience in Australia, New Zealand, Hong Kong, Singapore, the United Kingdom and the United States. He is currently chair of ASX-listed Webjet, the deputy chair of Tourism New Zealand, the chair of the Lotteries Commission of New Zealand and the founder of boutique technology investment bank, North Ridge Partners. His past executive roles have included Global Head of Technology at ABN AMRO Bank and CEO of ABN AMRO Asia Pacific Securities.”

Mr Sharp said: “I’ve been fortunate to help build a number of software companies during my career. I consider Iress to be a remarkable Australian success story, and am looking forward to contributing to its journey.”

Iress managing director and chief executive, Andrew Walsh, said: “Tony’s experience across a range of areas such as strategy, governance and leadership has been invaluable over a long period of growth and change for Iress. He has played a critical role in shaping Iress and setting it up for further success. I thank Tony on behalf of my fellow directors and the management team for his guidance and counsel. I welcome Roger to Iress and look forward to working closely with him and the Board.”

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Andrew Walsh

As announced on 1 June 2020, Iress (IRE.ASX) entered into a Scheme Implementation Agreement with OneVue Holdings Limited (OVH.ASX) (“OneVue”) under which Iress would acquire 100% of the issued shares of OneVue (the “Scheme”).

Today, the shareholders of OneVue met to vote on the Scheme. The resolution to approve the Scheme was approved by the requisite number of OneVue shareholders. The Scheme remains subject to Court approval at a hearing which has been set for Wednesday, 28 October 2020. If the Scheme is approved at this hearing, the Scheme will proceed with the implementation date currently scheduled for 6 November 2020 at which time OneVue shareholders will receive the Scheme consideration of 43c cash per share.

Iress chief executive, , said: “We are pleased with the outcome of the OneVue Scheme meeting today and look forward to working with OneVue management to complete the transaction over the coming months. We would like to take this opportunity to thank OneVue shareholders, directors and management for their commitment to pursuing this outcome.

“This is a strong opportunity to combine OneVue’s strength and position in administration of managed funds, superannuation and investment, with Iress’ strength in software and data, which provides the combined entity with the opportunity to drive innovation through technology.”

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Andrew Walsh

Iress (IRE.ASX) has announced an increase to the consideration under the proposed Scheme of Arrangement (the Scheme) with OneVue Holdings Limited (OVH.ASX) (OneVue).

The consideration that OneVue shareholders will be entitled to receive for their shares under the terms of the Scheme will increase from 40 cents per share to 43 cents per share.

OneVue and Iress have entered into an amendment to the Scheme Implementation Agreement (SIA) between them to give effect to the increase in consideration. A copy of the amending agreement is attached to this announcement as Annexure A.

Iress chief executive Andrew Walsh said: “The original offer price of 40 cents per share was unanimously recommended by the OneVue Board. It was towards the upper end of the independent expert’s valuation range and represented a 67% premium to OneVue’s closing share price on 28 May 2020, the last trading day prior to the announcement of the Scheme.

“While overall feedback from OneVue shareholders has been very positive regarding the Scheme, Iress has considered all shareholder feedback and decided to increase consideration to 43 cents per share to give the Scheme the greatest chance of success. This revised price is at the top of the independent expert’s valuation range of 36 cents to 43 cents per OneVue share and represents a 79% premium to the 28 May 2020 closing share price.

“If OneVue shareholders view the offer as attractive, we encourage them to vote in favour. If the Scheme is unsuccessful, the independent expert has indicated there is a risk that the OneVue share price will fall below our original offer. On 28 May 2020, OneVue was trading at 24 cents per share.”

The revised consideration of 43 cents per share represents Iress’ best and final offer, in the absence of a competing proposal and subject to all of Iress’ rights under clause 11.6 of the SIA, which gives Iress the right to make a matching offer in the event of a competing proposal.

OneVue shareholders will meet virtually to consider and vote on the proposal on 9 October 2020.

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Segment Profit was down 3% on the previous corresponding period (pcp), reflecting acquired costs, currency movements  and the short-term impact of annual leave delays following the onset of COVID-19. Excluding these factors, Segment Profit growth was up +2%.

Reported NPAT was down 14% on 1H19 due to the impact of operating losses in acquired businesses and increase in annual leave expense. Excluding the impact of these items, NPAT was +4% on pcp.

Iress chief executive, Andrew Walsh, said: “Iress’ primary focus during COVID-19 has been to ensure the health and wellbeing of our people and service continuity to clients. Iress and its 2,000 people adapted quickly and seamlessly during the rapid move to home working. Our technology and systems have meant all services have continued and been accessible to clients working remotely.

“Our response to COVID-19 has been based on considering the needs of all our stakeholders over the short, medium and long term.

“Our software and services have proven to be reliable and resilient during COVID-19. Demand has remained strong with increased interest in our digital offering.

“In Australia, we are continuing to support advice businesses changing licensees or setting up new business, with more than 400 advice businesses choosing Xplan over the past year as the industry changes.

“We also see continuing momentum in our superannuation strategies, with a second super fund selecting Iress to automate its operations, and with delivery to the first super funds expected in the first half of 2021.

“In the United Kingdom and Europe, revenue growth was higher than the prior corresponding period due to the positive contribution of our recent acquisition of QuantHouse as well as stable core revenue reflecting client delivery success. This was offset by the temporary restriction of mortgage products as a result of COVID-19, however we continue to see a strong client pipeline and re-commenced delivery momentum which will drive future financial results.”

Key points:

• Group revenue: $270.7 million, +12% on 1H19 (+11% on a constant currency basis).
• Group Segment Profit: $71.9 million, -3% on 1H19 (-3% on a constant currency basis). +2% excluding acquisitions and a short-term COVID-19 related increase in leave costs. Underlying3 margins flat.
• Reported NPAT: $26.3 million, -14% on 1H19. +4% excluding acquisitions, currency movements and short-term COVID-19 related increase in leave costs.
• Interim dividend: 16 cents per share, 35% franked.
• Strong underlying fundamentals: Cash conversion of 134%; recurring revenue ~90%; net debt balance $48.7 million representing a conservative leverage ratio of 0.3x Segment Profit.

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The Chief Commercial Officer will be responsible for Iress’ business growth objectives, including increasing growth at scale. The Chief Commercial Officer will report to the CEO and be a member of Iress’ leadership team.

Iress chief executive, Andrew Walsh, said: “I am delighted that Michael is joining us in this role. The new role reflects our focus on scale, consistency and delivery, particularly where clients have increasingly similar needs. We also continue to focus on improving the client experience and a focussed strategic approach to this is important to Iress and our clients.

“Michael is an experienced financial services leader with extensive international experience including in Asia Pacific, the United Kingdom and the US. This includes leading the equities division at Australia’s largest bank, Commonwealth Bank, as managing director for Asia Pacific for MF Global, and currently as the chief executive of research firm Investment Trends, which provides research and insights to financial services businesses in Australia, Asia, Europe, the US and the UK. Michael will bring a strong focus to sales capability and client experience supported by his international and industry experience.”

The roles and responsibilities of managing directors, who will report to the Chief Commercial Officer, are unchanged.

Michael will start in the role on 19 October.

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Now in its sixteenth year, the Australian Insurance Industry’s ‘night of nights’ recognises and celebrates the accomplishment of individuals and companies spanning across the breadth of Australian insurance.

‘The Australian Insurance Awards are a platform for the industry to come together and shine light on areas of brilliance, and the positive impact we have on the community,’ says Prue Willsford, CEO of ANZIIF.

‘Every year I find myself inspired by some of the incredible achievements from individuals and companies, and their contribution to raising the standard of professionalism for the insurance and financial services industry’

‘In a digital age where the market is so competitive, it’s imperative to highlight the great things the industry is doing to better serve the public. I’d like to congratulate this year’s finalists for taking the time to submit and demonstrate such excellence in their submissions.’

This year, the 2019 awards will be held at The Star Event Centre in Sydney on 22 August.

Tickets are still available. Book your seat or table now before they sell out – Register online

The finalists for the 2019 Australian Insurance Industry Awards are:

Small-Medium Broking Company of the Year

• BAC Insurance Brokers
• Warren Saunders Insurance Brokers
• Zenith Insurance Services

Large Broking Company of the Year

• Aon
• Marsh
• MGA Insurance Group

Authorised Representative Business of the Year

• Bell Partners Insurance
• Clear Insurance
• Complete Risk Solutions
• CPR Insurance Services

Underwriting Agency of the Year

• CHU Underwriting Agencies
• Club Marine Insurance
• Emergence Insurance
• GT Insurance
• SURA Film & Entertainment

Direct General Insurance Company of the Year

• Achmea
• Lawcover
• NRMA Insurance
• Westpac General Insurance

Small – Medium General Insurance Company of the Year

• Berkley Insurance Australia
• RACT Insurance

Large General Insurance Company of the Year

• Allianz Australia
• CGU
• Hollard Insurance
• QBE
• Zurich

Life Insurance Company of the Year

• AIA Australia
• BT
• MetLife Australia
• MLC Life Insurance

Insurtech Program of the Year

• Allianz Australia
• CancerAid
• Gallagher Bassett
• MetLife Australia

Professional Services Firm of the Year

• Barry.Nilsson.
• Hall & Wilcox
• MinterEllison
• Sedgwick
• TurksLegal
• Wotton + Kearney

Service Provider to the Insurance Industry

• CoreLogic Australia
• DXC Technology
• Independent Validation Advisory Australia (IVAA)
• MJM Corporate Risk Services
• Phenix Jewellery

Excellence in Workplace Diversity and Inclusion

• AIG Australia
• CHU Underwriting Agencies
• Genworth Financial Mortgage Insurance
• Hollard Insurance
• MetLife Australia
• TAL

Insurance Learning Program of the Year

• icare
• QBE Insurance
• Sedgwick
• Suncorp

Young Insurance Professional of the Year

• John Deane, Gallagher Bassett
• Scott Duncan, Taylor Fry
• Christopher McAuliffe, Sedgwick
• Matthew McHutchison, Independent Validation Advisory Australia (IVAA)
• Linh Nguyen, Sedgwick
• Jillian Pancott, Sedgwick
• Ananya Tiwari, Proclaim
• Andrew Walsh, Sedgwick

The 2019 Australian Insurance Industry Awards were cofounded with Asia Insurance Review (AIR).

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Reporting directly to Chief Executive Officer, Andrew Walsh, Mr Rady will be responsible for leading IRESS’ Financial Markets business globally.

The Financial Markets business is a core division within IRESS providing market data and trading software and services to institutional and retail participants, representing professional and private end users. IRESS operates in Australia, New Zealand, Singapore, Canada, South Africa and the United Kingdom.

Announcing the appointment today, Mr Walsh said the new role would be focused on growing IRESS’ financial markets business globally.

“Matthew is an outstanding executive with impressive international and local experience. The breadth and depth of this experience, including in financial services product innovation and technology-enabled, customer-focused roles, makes him ideally suited to this position and will bring an invaluable perspective to our existing business delivery and global growth.”

“The new role is a strategic response to our global growth plans and the opportunities being presented by this.”

Mr Rady joins IRESS from Macquarie Group where he spent 18 years as Executive Director of the Banking and Financial Services Group. Mr Rady was responsible for the development and growth of a range of businesses, with roles including accountability for product delivery, business strategy, acquisition and integrations, and management of international operations. Most recently, Mr Rady was head of Macquarie’s North American Banking and Financial Services Group, based in Toronto.

Mr Rady said that he was delighted to be joining the IRESS team.

“The company has gone through significant growth internationally over the past 12 months and I am excited about the opportunity to support existing clients as well as executing IRESS’ overall growth strategy in key markets.”

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The 2011 version of the Investment Trends Planning Software Report is an in-depth analysis of fully featured planning applications most frequently used by Australian financial advisers. In Investment Trend’s December 2011 benchmarking tests, XPLAN achieved the highest overall functionality rating.

“IRESS has produced an impressive advice platform that is supporting their strategy to take Australian developed advice technology to international markets,” said Mark Johnston, Principal of Investment Trends.

“This is the fifth year in a row that XPLAN has ranked first for overall planning functionality,” added Johnston.

The report found that leading providers were the most active in adding new features to their products. Notably it commented that IRESS’ XPLAN ranked first with the much anticipated release of XPLAN 2 representing an important technology capability to support enhanced functionality in 2012.

IRESS continues to innovate across most aspects of functionality and released an important ‘Advice Container’ approach to codify Best Interest compliance in direct response to regulatory and compliance efficiency.

Andrew Walsh, IRESS’ Managing Director, commented, “IRESS continues to invest in our core XPLAN platform and bring new and innovative features to market, and it is pleasing to have this recognised again in this research by Investment Trends. Our core product and solution strength in meeting client requirements has not only seen growth in Australia but also made strategic inroads internationally, most recently in the United Kingdom where we believe our offer is significantly differentiated to local competition.”

“Our position as a wealth technology provider in numerous leading wealth markets is increasingly unique and strategic to our client base. Trends in consumerism and advice reform are resonating internationally, and the opportunity to address these common aspects with scale and broad experience presents numerous opportunities to IRESS and our clients,” added Walsh.

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