Faris moving on from Locus Research

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After four years with Locus Research, chief executive Daniel Faris is leaving Tauranga to take up a new role in Auckland with Tax Traders as client relationship and strategic partnerships manager.

Locus Research has been a key element in the Bay’s entrepreneurial ecosystem since it was founded by Timothy Allan 15 years ago, and has built a reputation for deep research, original product development, and solid execution of innovative products.

Faris joined the Locus team in 2015 as programme director, with oversight of the full pipeline of work.

He picked up responsibility for ensuring innovative products became a reality, and transitioned to the roles of general manager and then chief executive as Allan became more focused on his role as chief executive of electric bike company Ubco.

The decision on whether or not to move was a bitter-sweet challenge, he told Bay of Plenty Business News.

The opportunity to join Tax Traders had been initially discussed before he joined Locus as he was close to the company’s founders.

Tax Traders  focuses on tax pooling. This is sophisticated approach to provisional tax management for businesses.

The tax pooling system is based on taxpayers who pay provisional tax into a “pool” at Inland Revenue.

Once taxpayers know exactly what they need to pay in provisional tax, they transfer this out of the pool to their Inland Revenue account and sell any surplus to someone else.

The aim is to aggragate tax payments over the financial year.

“The company is now really focused on technology and growth, and my new role will focus on bringing more innovative outcomes and new products, opportunities and skills,” said Faris.

“The move is the right thing to do, but [the family]will always be Tauranga locals and we’re hoping to find our way back here,” he said.

“Not only did I have to come to terms with leaving a brilliant crew of people at Locus, but we’re very sad to be stepping away from Tauranga.”

Faris has been intimately involved in the region’s product development system, and noted Tauranga’s lifestyle in drawing in talented people.

“I really think the Tauranga lifestyle is a massive strength and there is something about the Tauranga innovative community that is really exciting. There is a degree of openness and willingness to support one another that is very rare, and that’s something I’m going to take with me.”

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