For years Phil Kearns was an integral part of the Australian rugby team, with his career bookended by World Cup successes in 1991 and 1999, but now a new challenge awaits the ex-Wallaby captain as chief executive of Centric Wealth.
Ironically Kearns was considered the best of 15 “strong candidates” for the position of CEO at Centric, and will begin his role on 12 December.
The post has been vacant since July when chief executive, John McMurdo, and chairman, Philip Kelly, left the wealth advisory firm.
David Shein ran the business in a temporary capacity and will stay on as Centric chairman.
Kearns joins Centric from Investec Bank, where he has spent the past two years as a managing director with Investec’s Corporate Advisory business.
Centric also announced that chief financial officer, Chris Powell, will take on the additional role of chief operating officer.
Powell joined as part of the senior management reshuffle in late July and believes the new CEO will bring great industry contacts to the role.
“We have a strong niche client base serviced by just under 60 professional advisers,” he said.
“Phil was the best of 15 strong candidates and we will draw on his experience in building a client base.”
Shein added that the appointment of Kearns completed Centric Wealth’s senior management team.
“The Board and management are thrilled that Phil will be joining Centric as CEO,” he said.
“The Board evaluated a number of outstanding candidates for the role, and ultimately decided that Phil is best suited to lead the company.
“At Investec Phil was instrumental in building the private bank’s client base and in introducing investors to innovative investment products, including aircraft and wind farm investment funds.
“In addition, he has been responsible for leading significant corporate transactions in wealth advisory and other industries.”
Shein also praised the contribution of Powell to the business over the past five months.
“Chris joined Centric as CFO in July and since that time has made a significant mark on the business” Shein said.
“I am particularly pleased that, with the appointments of Phil and Chris, along with the existing heads of business, Centric now has in place a complete senior management team.”
For his part, Kearns welcomed the new challenge as Centric prepares for a post-FoFA regulatory environment.
“Centric is recognised as having the most professional advisors in the industry, whether in financial planning, risk insurance, lending or family office services,” Kearns said in a statement.
“We are entering a new era of financial advice where client centric advice is critical. In this regard, Centric is ahead of the game and I see an amazing opportunity for growth.”
