Praemium has announced the appointment of Richard Large as chief technology officer (CTO), who will be responsible for developing and executing the company’s technology strategy.
Mr Large joins Praemium with over 20 years of experience leading technology teams within financial services around the world, previously serving as CTO of the $250 billion Australian sovereign wealth fund, The Future Fund.
Moreover, he spent over 15 years as global head of business systems at Aberdeen Asset Management (abrdn) in the UK, which has over 5,000 employees and £500 billion ($930 billion) in assets under management and administration, encompassing the Elevate and Wrap platform brands.
Speaking on the appointment, Praemium chief executive Anthony Wamsteker said the firm is “delighted” to have Mr Large join the executive team.
“His deep expertise and experience in the financial services industry will be invaluable as we continue to innovate and grow our business and will solidify our commitment to creating market-leading technology solutions for wealth management firms,” Mr Wamsteker added.
“With expertise in designing and implementing complex financial systems and delivering technology strategy to maximise business returns, Richard has a proven track record in technology transformation, IT governance, and operational efficiency.
“His leadership will strengthen our in-house technology team which has developed our award-winning systems including ranking as the number one platform for decision tools and security, data and integration in the latest Investment Trends Platform Benchmarking Survey 2022.”
Mr Large replaces interim CTO David Bennet, who has held the position since August 2022. Before this, Mr Bennet served as Praemium’s software delivery manager, Australia.
“I am excited to join Praemium and look forward to working with the talented team to drive innovation and build industry-leading technology solutions,” Mr Large said on his appointment.
“Praemium’s platform has one of the most comprehensive offerings in the market and I’m thrilled to be joining the company at this time to help realise its growth ambitions and deliver value to our customers,” he concluded.
Last month, Praemium reported strong funds under administration (FUA) growth in the March quarter, revealing an 8 per cent boost from 30 June last year to $43.7 billion.