It’s a changing of the guard at MyState Limited as the Tasmania-headquartered group ushers in new senior executives.
MyState Limited, consists of MyState Bank and TPT Wealth, a trustee and wealth management company.
Vaughn Richtor (pictured top) has been appointed new board chair, while Brett Morgan (pictured below) is the new managing director and CEO. They replace chair Miles Hampton and managing Director and CEO Melos Sulicich.
“Renewal in key leadership roles is vital if organisations are to progress, and it’s the right time for me to retire,” said Hampton. “It has been both a privilege and honour to be chairman at MyState.”
Hampton’s retirement signals the end of a 16-year association with Tasmanian Perpetual Trustees (now TPT Wealth) and MyState Limited.
Hampton said MyState had been a quiet achiever.
“We have delivered solid returns to shareholders since MyState Limited was created in 2009, delivering a total shareholder return of 299% vs the ASX 200 146%,” he said.
“We have built the platform to provide the services customers expect, career opportunities for our people but most importantly, and what I am most proud of, is we have remained true to our credit union and trustee company roots w. the overriding culture is one of putting our customers first.”
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Incoming chair Richtor said Hampton’s pride in Tasmania, dedication to local businesses and its people and community projects never wavered.
“Miles has been chairman for nine years and leaves MyState in terrific shape by honouring its past and steering us towards a digital banking future,” Richtor said.
“Both Brett and I are grateful as today we have a sharp, customer-centric focus wealth management business that sets us apart from most in the industry.”
Richtor has held CEO roles in Asia and was the foundation CEO of ING Direct Australia.
“I’ve joined MyState because I’ve always been drawn to transformation and change. I see an organisation that has worked hard to get the operational and technical platform in place, with a rich culture and great home base in Tasmania,” he said.
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Hampton said Morgan’s background, including senior executive roles at ING, the fintech space, and more recently as CEO of ASX-listed BNK Banking Corporation made him a perfect fit.
Morgan said he was naturally driven to be part of a business that served its customers well when he joined the company in January.
“I was fortunate to join ING before it launched and had an amazing 15 years of delivering fairer banking for Australians. I love being part of a team and culture w. we are all chasing a better way for customers,” Morgan said.
Morgan said joining MyState was on his radar because it had a great reputation with customers for delivering quality products and service, with aspirations to grow in its Tasmanian heartland and across Australia.