Hearts and Minds CEO Paul Rayson retires
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The news: Hearts and Minds Investments chief executive Paul Rayson will retire in February, having led the purpose-driven investment company since its inception and listing on the ASX in 2018. Rayson will be succeeded by Brett Jollie.
The numbers: Hearts and Minds shares lifted 1.6% to $3.20 by 11:15am, having advanced more than 30% since January.
The context: Rayson served as managing director of Australia's largest online broker CommSec between 2013 and 2018, having previously been managing director of Colonial Mutual Life Assurance Society.
Rayson will be replaced by Brett Jollie, former managing director of Abrdn Asset Management Australia. Jollie is currently a partner at Mavin Advisory and a non-executive director of Fundbase Group.
Jollie and Rayson will work together on the leadership transition over the coming weeks, the company said.
What they said: "I am incredibly proud of what [Hearts and Minds] has achieved since inception, in particular our $70 million contribution to medical research causes around the country," said Rayson.
Hearts and Minds founder and non-executive director Matthew Grounds said: "We were very lucky to get an executive of Paul's calibre back in 2018 to run [Hearts and Minds] and help take it to IPO".
"... He helped establish the operational infrastructure and reporting framework that we use today and has provided invaluable guidance and leadership to the team and board over this six-year period."
The source: ASX announcement
