Wes Gillett has been appointed as Head of Sales, James Edmonds as Chief Operating Officer and Bruce MacDougall as Chief Financial Officer.

Powerwrap Chief Executive Officer Will Davidson said, “We are delighted that Powerwrap has added some of the best expertise in the platform business in Australia.

“These are high-quality industry leaders with extensive experience in growing and sustaining platform businesses in the wealth market.

“They will provide a substantial boost to our capability and enable us to drive our growth agenda.”

Wes Gillett was most recently Head of Marketing and Distribution at Hub24, during the period in which its funds under administration increased from $400 million to almost $6 billion. Bruce MacDougall was most recently Chief Financial Officer at the Netwealth Group, and James Edmonds was Executive Director at Morgan Stanley Wealth Management, overseeing the group’s platforms.

Mr Davidson said the appointments came at a crucial time for Powerwrap. “Powerwrap is aiming to become the largest unconstrained and most innovative institutional grade wealth management platform in the market.

“With the breakdown in the vertically-integrated banking model, Powerwrap is uniquely placed to offer financial planners and wealth advisers a non-bank-owned partner to conduct and grow their wealth businesses.

“Our track record in delivering bespoke turnkey solutions and breadth of product offering are perfectly suited to capture this market.”

Powerwrap Chairman Anthony Wamsteker said, “The Board is delighted that Will Davidson has attracted such high-calibre candidates to Powerwrap as it enters its next phase of growth.”

Powerwrap currently has approximately $6.9 billion in funds under administration and offers the broadest product range of any non-bank-owned platform through its open architecture technology

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