Hub24 distribution head moves to Powerwrap

Wes Gillett, Bruce MacDougall and James Edmonds have been appointed to the roles of head of sales, chief financial officer and chief operating officer respectively.

A Powerwrap spokesperson told ifa that the chief operating officer was a newly created position, that the former head of distribution job title had been replaced by head of sales, and that no one has held the chief financial officer role since Sean Slattery vacated the position in May 2017.

Wes Gillett makes the move after nearly five years at Hub24, where he was head of marketing and distribution.

Prior to that, he had various strategy, business development and distribution roles at FuturePlus Financial Services, KPMG, Decimal, Australian Skandia and Asgard Wealth Solutions.

Bruce MacDougall joins Powerwrap with over three decades’ experience in finance and accounting management, and prior to the appointment was chief financial officer at Netwealth.

Before that, he held a similar role at Colonial First State Custom Solutions for 11 years, as well as various senior positions at AXA between 1998 to 2004.

James Edmonds has extensive investment and performance experience, and across a career spanning more than two decades and four countries he held the title of head of performance at various investment firms, including AllianceBernstein, Invesco (continental Europe) and Deutsche Asset Management.

Most recently, he spent more than seven years at Morgan Stanley Wealth Management where was first executive director, strategy group based in New York before moving to Sydney to head investment solutions.

Commenting on the appointments, Powerwrap chief executive Will Davidson expressed delight to have “some of the best expertise in the platform business in Australia” join the platform provider.

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

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

Powerwrap has $6.9 billion funds under administration.