After announcing record platform growth in its quarterly and annual results and the appointment of ex-Powerwrap chairman Anthony Wamsteker as its new CEO, Praemium is positioning for its next phase of growth with additional executive responsibility changes.
In the past year Praemium has experienced growth in FUA of 223% from organic sales growth and the Powerwrap acquisition. Praemium provides administration and reporting solutions to around 25% of the $600 billion advised Private Wealth wholesale client market and has a strong and growing position in the advised retail IFA.
Mat Walker, Praemium’s Chief Commercial Officer, who has been responsible for product, marketing and sales will add business strategy to his responsibilities, working closely with Wamsteker. Martin Morris, Praemium’s Head of Distribution, will be promoted to the Executive Leadership Team of the business and assume full responsibility for sales as Chief Distribution Officer.
“With the acquisition of Powerwrap and investment in sales, service and operations over the past two years we are well positioned to capitalise on the strong momentum we have built and to deliver continued growth. While we’ve had a clear market strategy driving our direction, with the recent review our international business, there’s an opportunity to enhance Praemium’s domestic strategy to build on this growth. Since Mat joined the business at the end of 2017, he’s played a key role in developing Praemium’s market positioning and re-branding, overall platform and product value proposition and strategic investment in sales. During this time, Martin has built and led the Praemium Distribution Team and has been instrumental in growing the number of advisers using our platform and his thought leadership pieces have raised Praemium’s brand in the market, making these changes a natural evolution for the business.” Wamsteker said.
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