Tuesday, 30 April 2019 19:25

Former senator Stephen Conroy joins board of Sargon

By
Stephen Conroy Stephen Conroy

Former Senator and Federal Minister for Broadband, Communications and the Digital Economy, Stephen Conroy, has been appointed to the board of Australian financial technology and infrastructure company, Sargon.

Conroy joins non-executive chairman Robert Rankin, chief executive Phillip Kingston and executive director David Chen on the board.  

Rankin recognised the alignment between Conroy’s “unique experience” and Sargon’s plans to expand its platform to power the “world’s next generation” of funds and financial products.  

Conroy’s appointment follows a 20-year career in the Senate, where his responsibilities were across technology, financial services and superannuation.  

Sargon noted that as minister, Conroy developed and delivered Australia’s first digital strategy to future-proof the nation for the next generation.  

“Sargon is an innovative, fast-growing fintech company. Tapped into the inexorable growth of the Australian superannuation and managed funds sector, its platform is emerging as a significant independent player in the financial technology marketplace,” Rankin said.

“Stephen is a great addition to our board and I look forward to working with him to support Sargon’s growth in the Asia Pacific region.”

Conroy described his appointment as a “fantastic opportunity to continue to contribute to the development of important nation-building infrastructure”.

“In many ways, my board role with Sargon feels like the perfect capstone to my prior experiences," he said.

“I spent my first decade in parliament in various roles focused on financial services, regulation and superannuation. I then spent my second decade in parliament focused primarily on technology and the digital economy. The intersection of technology and financial services is where I plan to focus in this next stage of my career.

“Sargon is an exciting, homegrown fintech company. It’s independent and not beholden to or aligned with a financial institution, or any particular retail or industry fund. It’s not burdened by legacy systems or a culture that has failed customers. It’s purpose-built to serve members’ best interests.

“I’m delighted to have the opportunity to be part of this impactful business as it seeks to revolutionise the industry.”  

In 2018, Sargon completed the acquisitions of:

  • IOOF Holdings Limited’s subsidiary, Australian Executor Trustees Corporate Trust, a provider of corporate trust services to the financial services industry in Australia;
  • Decimal Software Limited, an ASX-listed fintech company delivering financial advice via one of the world’s first, institutional-grade digital advice platforms; and
  • Heritage Trustee, a New Zealand trustee company that holds one of only four KiwiSaver Supervisor licences in New Zealand.

Sargon says it will soon complete the acquisition of the Trustee Services business from OneVue Holdings Limited, one of the largest independent providers of superannuation trustee services in Australia.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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