WT Financial Group welcomes first chief financial officer

The ASX-listed WT Financial Group (WTL) has welcomed its inaugural chief financial officer, who was integral in the execution of the company's Investco strategy.

Michael Peters has been appointed to the newly created role and will accelerate its consolidation effort across the financial advice sector, while driving earnings growth through all initiatives, the group said.

He will also take leadership of WTL's existing finance function, with a mandate to strengthen capability, enhance discipline and support the next phase of growth, WTL said.

Peters' expertise revolves around mergers and acquisitions, capital management and scaling advice-led businesses, accumulated during his time as head of M&A and lending at ANZ and head of finance, corporate and structured finance at the Commonwealth Bank.

More recently, he was chief financial officer at ParagonCare for over five years.

The appointment also follows WTL company secretary Ian Morgan announcing his intent to retire, a role Peters is expected to also assume in the near future to oversee its financial governance and ASX reporting duties.

Commenting, WTL managing director Keith Cullen said Peters' appointment fulfilled all criteria required for the role.

"This is a high-impact appointment for WTL," Cullen said.

"We've been very deliberate in finding someone who can help us execute, not just report. Michael has operated at the centre of M&A and funding within advice for decades. He understands what makes M&A opportunities successful, how they're funded, and how to make them work post-completion."

Cullen also commended the extensive relationships Peters has established within the industry.

"That's critical to what we're building," he said.

"As we scale Investco and continue to help drive consolidation in the advice profession, execution discipline becomes everything, and Michael materially strengthens that capability."

Peters will receive fixed remuneration of $350,000 per annum (inclusive of superannuation), alongside some adjusted short-term and long-term incentive arrangements.

Moving forward, WTL continues to see a significant pipeline of consolidation opportunities across the advice sector, and the addition of Peters will help capitalise on the pipeline while delivering long-term value for shareholders, Cullen said.