Why Has Iress Chosen Andrew Russell to Lead Its Next Growth Phase?

Leadership Transition at a Strategic Crossroads

Iress Limited (ASX – IRE) has announced a significant leadership change with the appointment of Andrew Russell as Group CEO and Managing Director, effective 17 November 2025. This change follows the departure of Marcus Price, who has been at the helm since 2022 and is credited with steering the company through a critical turnaround phase. Price’s tenure saw a sharpened strategic focus, divestment of non-core assets, and a restored balance sheet, setting the stage for the next chapter.

A CEO with a Proven Track Record in Fintech

Andrew Russell arrives with over 25 years of experience in financial services and technology, having led notable wealth technology firms including Bravura Solutions and Class Limited. At Bravura, he successfully returned the company to profitability and fostered a culture of innovation and growth. His leadership at Class Limited culminated in a strategic acquisition by HUB24 Limited in 2022. Russell’s appointment signals Iress’ intent to deepen its product and client focus, leveraging his expertise to capitalise on the company’s strong market position.

Incentives Aligned with Long-Term Shareholder Value

Russell’s remuneration package reflects a strong alignment with shareholder interests, with over 74% of his maximum total remuneration at risk through short-term and long-term incentive plans. His base salary is set at $920,000, supplemented by a $30,000 superannuation contribution. Notably, to compensate for forfeited incentives from his previous role, Russell will receive a replacement equity award in Iress securities valued at approximately $1.1 million, vesting after 12 months without additional performance conditions.

Interim Leadership and Transition Details

Marcus Price will step down on 4 September 2025, with Geoff Rogers, the current CEO of Global Trading & Market Data at Iress, appointed as Acting CEO until Russell’s commencement. Price will receive a pro-rata short-term incentive payment and retain equity awards on a pro-rated basis under existing plan terms, with no acceleration or relaxation of performance hurdles. The company’s board expressed gratitude for Price’s contributions and optimism about Russell’s leadership in driving innovation and growth.

Looking Ahead

Russell’s appointment comes at a pivotal moment as Iress seeks to capitalise on its recent strategic transformation. His focus on innovation and client-centric growth will be closely watched by investors eager to see how the company navigates competitive pressures in the financial technology sector. With shareholder approval pending for his long-term incentive plan in 2026, the market will be attentive to how these incentives translate into performance outcomes.