Paul McMahon

Paul McMahon has joined the board of digital advice provider Ignition as non-executive director for Ignition Advice UK Limited.

Mr McMahon has over 35 years financial services industry experience in the UK and Europe including in non-executive director roles.  His previous experience includes senior executive positions at Zurich Financial Services, managing director of AXA Sun Life (which later became Friends Life) and group marketing director at AEGON. He was CEO of fintech company FNZ, and founded his own advisory business in 2013 working with major UK and European financial services companies in M&A, change management, and digital transformation. He will be based in the UK, reflecting Ignition’s recent expansion in that market.

Mr McMahon’s appointment to the board follows that of Russell Scrimshaw earlier this year, who joined Ignition as deputy chairman and non-executive director in January.

Peter Meurer, chairman of the Ignition board, said that Mr McMahon’s appointment brings significant international experience and knowledge to the business as it continues on its growth trajectory.

“Ignition has grown substantially over the past six months and we continue to see a very strong pipeline of interest in our digital advice offering.

“Paul’s extensive industry expertise and understanding will be extremely valuable as we continue our expansion in both the UK and in Australia and Asia.

“We are currently establishing partnerships with leading financial institutions in these markets and Paul is ideally positioned to help support and guide these discussions, particularly in the UK,” Mr Meurer said.

Mr McMahon said he has long been a passionate advocate of the social and economic importance of financial advice and that Ignition’s approach aligns closely with this.

“Our challenge as an industry has been to ensure there is sufficient breadth of advice, delivered in ways that are widely accessible and affordable. Advances in the use of digitisation now offers the prospect of  removing historic barriers that have constrained advice capacity and makes it possible to do so in ways that bring a step change in quality assurance and customer convenience.

“I am excited about the scale of evolution in financial advice provision that we will see in the next few years. I am confident Ignition will become a valued partner to many institutions who will be central to shaping that change.”

Ignition was recently appointed by UK wealth manager M&G Wealth for delivery of its digital advice offering for its advisers and customers. M&G Wealth is part of M&G plc which is a global investment group headquartered in London, England, and listed on the London Stock Exchange.

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Advice board of directors, (L to R): Peter Meurer, Mark Fordree, Russell Scrimshaw and Mike Giles.

Ignition Advice has announced that Russell Scrimshaw has accepted the roles of Deputy Chairman of the Board of Directors and Non-Executive Director. Scrimshaw is an experienced senior executive and company director, and a valuable addition to the growing firm.

On joining the Board of Ignition, Russell Scrimshaw, Deputy Chairman of the Board of Directors and Non-Executive Director, said, “I am very excited to be a part of what I expect will be a major international software and services company in the rapidly expanding financial services and advice sector. Clearly, Ignition software is world class and has already generated several prestigious sales in Europe and the UK, as well as in Australia.”

Peter Meurer, Chairman of the Ignition Board of Directors said, “We are delighted to welcome Russell Scrimshaw to Ignition Advice. He is one of Australia’s leading financial services experts. An appointment of this calibre will greatly assist Ignition as we continue to expand through partnerships with leading global institutions in 2021.”

In his recent career Scrimshaw has been Deputy CEO of Fortescue Metals Group and Chairman of UK listed Sirius Minerals PLC (acquired by Anglo American earlier this year). He is Chairman of the Garvan Foundation and Non-Executive Director of the Garvan Institute of Medical Research.

During his earlier corporate executive career Scrimshaw was at various times responsible for Information Technology and Operations in the Commonwealth Bank of Australia, Director of Marketing at Optus Communications, Vice President of Sales and Service in the US for American computer Company Amdahl, and a senior executive in IBM Australia.

The appointment follows Ignition’s successful Series B capital raising with Morgan Stanley Wealth Management in 2020. Proceeds from the capital raising will be used to support business development and product research, ensuring that Ignition’s technology solutions remain at the forefront of global innovation.

Additional key 2021 hires

Ignition Advice continues to augment their global team with an aggressive recruitment strategy, also announcing Robert Coulter as Business Development Lead, APAC and David Hempson as Business Development Director, UK.

Robert Coulter joins the Sydney office to lead Ignition’s APAC distribution partnerships. Coulter brings experience with top tier firms including AMP, ING, BT Financial Group, MLC Australia and Asgard. David Hempson has a mandate to launch and lead Ignition’s new UK business. He has twenty years experience in financial services sales with firms including EValue and FE FundInfo, and a deep understanding of the investment and wealth sectors.

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