Rubik wealth MD steps up as CEO exits

23-Jan-2015

By Julie May

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Rubik Financial chief executive Niek Hoogenhout has departed the group after less than a year in the top job, with the company unable to confirm what he will do next.

Rubik wealth managing director Iain Dunstan, who is responsible for the business’s financial planning software platform, Coin, has been appointed chief executive with immediate effect.

He would continue to perform his role as wealth managing director, the group said yesterday.

Dunstan, who joined Rubik in the fourth quarter of 2014, succeeded former wealth managing director Wayne Wilson.

Rubik chairman Craig Coleman said it was particularly pleasing to make the chief executive appointment internally, as it indicated the success of recent recruitment and acquisition strategies.

“Iain joined the company in October, bringing with him extensive wealth management and software development experience at a senior executive level,” Coleman said.

“He has a proven track record in building and running financial services software businesses, and is the ideal person to take Rubik to the next level.”

The company pointed to his work at Bravura, where he served as chief executive and managing director for six years.

According to Investment Trends' “May 2014 Planner Technology Report”, Rubik’s Coin software had 23 per cent of primary relationships with financial planners, while Xplan had 53 per cent and Midwinter held 8 per cent.

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