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The company has announced the appointment of LMG executive Simon Southwell as its new CEO.
Southwell, a seasoned leader in financial services with notable expertise in technology, innovation, and business transformation, will spearhead Positive Salary Packaging’s (PSP) expansion in salary packaging and novated lease services (effective 2 September 2024).
Southwell joins PSP with a distinguished track record from his tenure at NAB and, more recently, at LMG, Australasia’s largest broker community.
At LMG, Southwell played a pivotal role as part of the executive team, overseeing the successful acquisition and integration of PLAN, FAST, and Choice aggregation businesses.
In his new role at PSP, Southwell will utilise his extensive experience to enhance the company’s innovative approach to salary packaging and novated leasing. His deep understanding of client needs and his strategic vision are expected to drive PSP’s growth and refine its solutions to better serve businesses and employees.
PSP, which is partially owned by LMG Asset Finance, stands to gain significantly from Southwell’s leadership.
His role will include creating synergies between PSP and LMG businesses, particularly through the referral of novated lease opportunities, thereby expanding PSP’s client base and service offerings.
Since entering the market in 2021, PSP has achieved several key milestones, including its recent appointment to the Queensland government’s panel of providers for novated leasing services.
Southwell’s appointment comes at a time of growing demand for tax-effective salary packaging vehicle solutions among both employees and employers.
Southwell expressed enthusiasm about his new role: “I am excited to lead PSP in scaling its operations and furthering its commitment to innovation in the salary packaging sector.
“Our goal is to provide businesses and employees with the best-in-class solutions that meet their unique needs, particularly in the fast-evolving landscape of electric vehicles. The close relationships we maintain with our clients and partners will be crucial in driving our growth and success.”
Southwell said, highlighting the company’s achievements: “In just three years, the Positive Salary Packaging team has proven its commitment to helping customers explore more options to access new and used vehicles, including electric vehicles, which have surged in demand due to FBT exemptions.
“Positive Salary Packaging has helped everyday workers navigate through their novated lease journeys amid a cost-of-living crisis, and positioned businesses as employers of choice in a competitive talent market.
“Salary packing is a thriving sector and I’m excited to build upon the exceptional work the Positive Salary Packaging team has already achieved in such a short time.”
Jennifer Ma, chairperson of PSP, praised Southwell’s appointment, emphasising his solutions-based mindset and strong vision for the company’s future.
“Simon’s experience in technology and business transformation, coupled with his strong relationships, will be invaluable as we continue to grow. We’re excited to have him lead the charge towards more innovation and a client-centric future,” Ma said.
With over 70 years of combined experience in finance, credit, accounting, and salary packaging, the PSP board is confident that Southwell’s leadership will drive the company towards new heights in the salary packaging sector.
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