Evidentia ex-chief executive quits chair role amid restructure

Evidentia chair and former chief executive Michael Wright will step down, following several senior roles were cut at the managed accounts provider under his successor, Louise Watson, who took the helm in September.

Wright was chief executive of investment research house Lonsec for four years until July 2025. Lonsec was acquired by Generation Development Group (GDG), which then bought Evidentia and brought the two established managed accounts businesses together under the Evidentia Group banner, with Wright as chief executive.

When Watson was announced as Evidentia's new chief executive, the company said Wright would move into the chair role as part of its succession plan.

With Watson taking over the role in September, a major organisational restructure at Evidentia Group has reduced headcount that claimed several senior roles despite the business reporting strong funds under management growth.

"While transitioning from his role as Evidentia chair, Mike Wright will remain actively involved with the broader GDG Group, leveraging his extensive industry experience and relationships to support our existing strategic priorities and continued growth," an Evidentia spokesperson told Financial Standard.

Chief operating officer and chief financial officer Will Gramolt has left the dual role to move to another post at parent company GDG.

Deputy chief financial officer Alex Kroujkov is now the chief financial officer. Darren Beesley remains as chief investment officer.

Those made redundant include chief risk and operations officer Jason Komadina, who took the role in August 2025. He was joined by general manager of advice solutions Marc Hraiki, who also moved to the group at the same time.

A number of sales and consulting roles were also impacted by the overhaul. Evidentia declined to confirm the exact number of staff and roles affected.

"As is common with any organisational change, a small number of roles have been impacted, resulting in some individuals departing our business. Evidentia Group takes the privacy of its people seriously, and as such will not make an official statement publicly disclosing the names of individuals or individual impacted roles," Watson said in response.

"The changes announced are designed to create a structure that supports stronger collaboration, better client outcomes and sustainable growth."

Evidentia Group ended the September quarter with $41.7 billion in FUM, up 28% on the prior corresponding period. It recorded $1.54 billion in net inflows, including $74 million in net new mandates.

Part of the changes saw the promotion of Brendan Johnson to chief client officer, a newly created role, after serving as general manager of business consulting for one year.

Jo Cornwell has also taken on a newly created role of chief commercial and operating officer, moving on from her position as head of manager research.

The senior leadership team includes Chris Carrodus as general manager of asset consulting, Chris Smith as general manager of implemented portfolios, Hugh Holden as general manager of wealth solution, and Mark Zaglas as general manager of business consulting and Naomi Christopher as general manager of marketing and communications.

Watson said: "Over the past 18 months we have made significant progress bringing our businesses, teams and capabilities together, while attracting leading talent from the market. As we look ahead, this new structure positions us to operate with greater focus and agility, to help more clients in more ways."

She added that the changes are about "building on the strong foundations established through the larger Evidentia Group and creating an organisation that is well positioned for sustainable growth."