Australians will have even more choice for deposit investments with Volt Bank joining the Cashwerkz platform Cashwerkz Limited (ASX: CWZ),…
Written by Cashwerkz Published: October 17 2019 Press Release
12 September 2019: Cashwerkz Limited (ASX: CWZ) (Cashwerkz) today announces it has adjusted the roles of its board and leadership team, effective today, to ensure a clear focus on the most significant growth opportunities.
From today, current CEO Hector Ortiz will concentrate on the Head of Sales role with Cashwerkz, focusing his efforts on growing all segments of the business as well as developing international opportunities.
“The Cashwerkz business is undergoing enormous change and we are on the right path to an exciting growth trajectory. To remain focused on building new business and partnerships and extend on the great work we have achieved, I will be moving across to lead sales for all segments including significant, identified, international market opportunities,” said Hector.
Current Cashwerkz Limited Chairman Michael Hackett will take on the role of Executive Chairman of Trustees Australia Limited, (Trustees Australia). This entity is currently a wholly owned subsidiary of Cashwerkz, which was established to retain the valuable name and licensing, when the listed parent entity changed its name from Trustees Australia Limited to Cashwerkz Limited on 22 May 2019 following the merger of the two companies in August 2017. Michael has undertaken the Managing Director or Chairman role in the original Trustees Australia parent entity since it was first listed in 1987. He will remain a Non-Executive member of the Cashwerkz board.
The strategy for this change is to enable Michael to focus his many years of experience in the Trustee and Responsible entity sectors on developing a truly Independent Trustee business for the “new” Trustees Australia Limited to capitalise on the significant opportunities developing in that business segment following the Hayne Banking Royal Commission and announced imminent legislation implementation. Implementation of this strategy has been progressed over several months with potential joint participants, and non-binding heads of agreement are being finalised currently to enable detailed mutual due diligence and strategic planning to be undertaken in anticipation of a demerger and ASX listing of Trustees Australia Limited in 2020.
John Nantes, currently a Non-Executive Director of Cashwerkz Limited will become Executive Chairman. John has more than 23 years’ experience in financial services and has been at the forefront of many of the initiatives that have created Australia’s dynamic fintech sector. This includes his work as Executive Chairman of online loan marketplace, Wisr (ASX: WZR) and as Non-Executive Director of Thinxtra, a public non-listed technology company. John also holds the role of CEO of specialist technology investment house Adcock Private Equity. He will draw on this valuable experience to continue taking Cashwerkz forward.
Hector Ortiz will remain in the CEO role assisted by Executive Chairman John Nantes, particularly in non-sales activities, while an executive search process is conducted to identify a new Chief Executive.
The board expects that these changes and potentially an additional new experienced board appointment will significantly enhance total company focus on building sales momentum and business growth.
The Cashwerkz Limited group of companies delivers an innovative online cash management marketplace in term deposit and At Call, whilst providing funding to over 43 Authorised Deposit taking Institutions and thousands of financial advisers and direct investors. Listed on the Australian Securities Exchange (ASX: CWZ) the group is headquartered in Australia.
Cashwerkz Technologies Pty Ltd (Cashwerkz Technologies) leverages the latest technology to deliver an innovative and streamlined approach to investing in term deposits and bonds, meeting the growing demand for a trusted, reliable and secure online platform direct investors and financial professionals can manage their defensive assets and transact cash investments seamlessly. Cashwerkz Technologies is a subsidiary of its parent company, Cashwerkz Limited alongside fixed interest solution experts, RIM Securities.
RIM Securities established 14 years ago, is the independent fixed income specialist arm of Cashwerkz Limited. RIM securities have extensive experience in searching for the value to deliver stable income solutions to all types of investors who require custom solutions or access to wholesale markets across cash, term deposits and fixed bonds and floating rate notes.
Trustees Australia Limited
Trustees Australia Limited delivers trusted, responsible entity services to fund managers and investors requiring bespoke solutions.
www.cashwerkz.com.au | @cashwerkz