WealthO2 names chair, director
The platform has appointed the founder of Macquarie Wrap as chair and HUB24 co-founder as executive director.
Neil Roderick spent 14 years at Macquarie Bank where he was responsible for establishing Macquarie Wrap, the Professional Series, and retail life insurance businesses, as well as leading the Cash Management Trust.
Prior to this, Roderick established HSBC Australia's corporate electronic banking service and re-established HSBC'S retail banking business in Australia.
"The innovative way WealthO2 runs its software on the cloud means it is resilient and rapidly scalable in ways that were prohibitively expensive only a few years ago," Roderick said.
Darren Pettiona was previously chief executive and co-founder of wealth management platform HUB24 for over five years.
He also served on the boards of Allied Funds Management, investorfirst, Van Eyk Research and TOTE Tasmania and was managing director and founder of COIN Software, as well as the chief executive of Advent Software.
He is currently a non-executive director of automotive repair company Midas and chair of Roar Software.
Pettiona noted the market has significantly changed since he established HUB24.
"In 2007 the benefits of managed accounts were not as well understood by advisers as today. It is technology innovation that can lead change in an industry," Pettiona said.
"With the decoupling of the big four banks from wealth the time is perfect for technological innovation to flourish."
WealthO2 chief executive and co-founder Shannon Bernasconi said the appointments bring a depth of experience to the business.
"The appointment of these two financial services stalwarts' to the WealthO2 board, comes as WealthO2's assets under management hit the $2.3 billion mark - a size that has been reached in less than 4.5 years," she said.