The chief executive of Bennelong Wealth Partners, William Davidson, has been appointed as the new chief executive of Powerwrap.
William Davidson brings nearly two decades’ worth of experience as a global operations director and executive chairman to the top role at Powerwrap.
Mr Davidson is the current chief executive of Bennelong Wealth Partners and spent more than six years as group chief operating officer at Bangarra Group.
Commenting on the appointment, Powerwrap chairman Matthew Driscoll said he was delighted to have Mr Davidson join the team.
“The independent platform market is undergoing rapid change as well as sustained organic growth,” Mr Driscoll said.
“Will’s expertise and depth of experience in the industry will be invaluable in helping Powerwrap capitalise on the opportunities this presents.”
Powerwrap director Chris Brant will be overseeing Mr Davidson’s transition to the Powerwrap executive team when he commences his new role in January next year.
During his time as chief executive at Bennelong Wealth Partners, Mr Davidson oversaw private equity investments across Australia and the UK. From 2006 to 2011, he grew, expanded and sold an international creative agency with offices in New York, London, Shanghai, Moscow, Dubai as well as Australia.
Mr Davidson said he had been a client of Powerwrap, and understood the importance of customer service.
“By bringing together the best-in-class technology, customer service and institutional grade investment product, the Powerwrap platform can lead the expansion into global equities,” he said.
“Powerwrap advisers and their clients are moving away from bank-aligned licensees and platforms, and looking for something unique in the high-net-worth investor segment.
“All Australian investors, particularly SMSF investors, are significantly underweight in global equities.
“Powerwrap can be the destination platform for the best global asset managers in the world.”
In July, founding chief executive of ME Bank Anthony Wamsteker was appointed as a non-executive director.