Life insurance newbie iExtend has announced Peter Cassidy as the new chairman of its board, in what it described as a pivotal moment in the company’s trajectory.
Cassidy, an influential figure with a proven track record in the investment sector, is recognised for establishing AMP’s private capital arm in 1993, overseeing investments in diverse sectors including resources and infrastructure. His career highlights include involvement in significant public investments and the privatisation of key assets such as Melbourne Airport and Victorian energy operations.
After his tenure at AMP, Cassidy founded The Sentient Group in 2001, focusing on managing investments for a broad spectrum of institutional clients worldwide. Prior to his new role at iExtend, he transitioned from The Sentient Group in 2017 to create Moss Ridge, a family office. Cassidy’s educational background comprises degrees in geology and chemistry from the University of Tasmania and a PhD in Coal Science from Monash University.
iExtend CEO David Sarkis expressed optimism about Cassidy’s appointment, emphasising his role in steering the company through its next growth phase.
“We are delighted to have Peter join iExtend as chairman and are fortunate to have someone of his experience and calibre to help guide us in the next stage of our growth,” he said. “Peter joins us at a busy and pivotal moment where we have the opportunity to scale our business with the adviser support we have built and further develop our enterprise solutions to elevate our industry-leading offering for licensees.”
This leadership change coincides with iExtend’s recent update about obtaining a new retail Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC), highlighting the company’s ongoing expansion.
The company, meanwhile, acknowledged the contributions of Rodney Payne, the outgoing chairman, praising his leadership and dedication during a critical period of growth and development.
“iExtend would like to thank former iExtend chairman Rodney Payne for his tireless efforts and commitment to the business over the past three years,” Cassidy said. “He helped the business mature from startup phase, and we wish him great success as he pursues new opportunities during the next stage of our growth.”
