Iress has announced changes to its operating structure and senior leadership teams following a strategic review of its business.
This includes the creation of a new UK CEO role with Simon New stepping across from the role of chief commercial officer to support Iress’ existing leadership group for the UK who will remain in place.
The business said that efficiency increases will be found through a 10% global headcount reduction “reflecting a more efficient and focused organisational structure”. Roles targeted for redundancy are not expected to impact on client service and delivery, it stated.
The changes follow the appointment of Iress Group CEO Marcus Price in 2022.
New said: “Iress is a great business with a long history of innovation. The changes we are announcing today will help us realign ourselves and ensure we’re even more focused on the needs of our clients and the changing dynamics of the market. The increased autonomy we are creating here gives us the agility and resources to move quickly and create far better outcomes for our clients.”
Iress will be restructured along business lines, with each unit having access to dedicated technology teams as well as operational functions. The company also plans to reinvest in its core software to improve value for clients, while launching a new Innovations division to expand capabilities in future growth areas.
Price added: “At the core of Iress’ refreshed strategy is a strong focus on getting closer to our clients, and driving a higher level of accountability and transparency. The UK is a cornerstone of our global business – our Mortgages and Sourcing businesses are extremely strong and our ambition is to better equip our Wealth and Trading businesses for increased performance and delivery for our clients.
“I’m confident that the changes we’ve announced today will strongly position us for our next growth horizon, with a program of clear and deliberate actions aimed at reinvigorating growth in our core businesses and delivering efficiencies that will improve our clients’ experience.”