Conroy joins non-executive chairman Robert Rankin, chief executive Phillip Kingston and executive director David Chen on the board.
Rankin recognised the alignment between Conroy’s “unique experience” and Sargon’s plans to expand its platform to power the “world’s next generation” of funds and financial products.
Conroy’s appointment follows a 20-year career in the Senate, where his responsibilities were across technology, financial services and superannuation.
“Sargon is an innovative, fast-growing fintech company. Tapped into the inexorable growth of the Australian superannuation and managed funds sector, its platform is emerging as a significant independent player in the financial technology marketplace,” Rankin said.
“Stephen is a great addition to our board and I look forward to working with him to support Sargon’s growth in the Asia Pacific region.”
Conroy described his appointment as a “fantastic opportunity to continue to contribute to the development of important nation-building infrastructure”.
“In many ways, my board role with Sargon feels like the perfect capstone to my prior experiences," he said.
“I spent my first decade in parliament in various roles focused on financial services, regulation and superannuation. I then spent my second decade in parliament focused primarily on technology and the digital economy. The intersection of technology and financial services is where I plan to focus in this next stage of my career.
“Sargon is an exciting, homegrown fintech company. It’s independent and not beholden to or aligned with a financial institution, or any particular retail or industry fund. It’s not burdened by legacy systems or a culture that has failed customers. It’s purpose-built to serve members’ best interests.
“I’m delighted to have the opportunity to be part of this impactful business as it seeks to revolutionise the industry.”
In 2018, Sargon completed the acquisitions of:
- IOOF Holdings Limited’s subsidiary, Australian Executor Trustees Corporate Trust, a provider of corporate trust services to the financial services industry in Australia;
- Decimal Software Limited, an ASX-listed fintech company delivering financial advice via one of the world’s first, institutional-grade digital advice platforms; and
- Heritage Trustee, a New Zealand trustee company that holds one of only four KiwiSaver Supervisor licences in New Zealand.
Sargon says it will soon complete the acquisition of the Trustee Services business from OneVue Holdings Limited, one of the largest independent providers of superannuation trustee services in Australia.