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Andrew Russell, the executive general manager, financial services, at REA Group and former GM of Mortgage Choice, will join the SMSF administration software provider in May.
Class, a cloud-based SMSF administration software provider, has announced that the REA Group’s current executive general manager of financial services, Andrew Russell, will join its ranks as managing director and CEO later this year.
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Mr Russell, who helped spearhead the launch of REA’s financial services business in 2016, will reportedly commence his new role at Class in “early May 2019”.
According to the SMSF administration software provider, the incoming MD and CEO was chosen for his “expertise in developing corporate strategy, sales leadership and market entry”, including the launch of Mortgage Choice’s wealth management and financial planning business, which he led while general manager of product and distribution at the brokerage.
Mr Russell was also instrumental in helping Virgin Money launch into the Australian market in the early 2000s.
Speaking of the new appointment, Matthew Quinn, the chairman of Class, said: “We’re very pleased to welcome Andrew as our new CEO. He brings a wealth of knowledge and practical experience in financial services, technology and product innovation.
“Andrew’s priorities on commencement will be to improve our market leadership in the SMSF administration sector and broaden our scope to become a leading SaaS platform provider in the financial services space.”
Mr Russell said he was “excited” to be joining Class and that he looked forward to working with the board to “create significant value for [its] shareholders”.
“Class has a great foundation and I see enormous potential to increase our market share and generate additional revenue from our core business and to develop new income streams,” he said.
[Related: Brokers to play key role in REA mortgage business]
