Investing fintech names chair
Investing fintech OpenInvest has appointed former NAB institutional banking GM Spiro Pappas to its board as chair.
OpenInvest is a platform that enables self-directed investors to access credentialled asset and wealth managers.
"We're delighted that Spiro ahs agreed to invest in the business and join us in the role of chair," said OpenInvest co-founder and CEO Andrew Varlamos. "Spiro has extensive experience within the financial services industry globally, and a deep understanding of technology trends, and shares our passion for leveraging digital technology to provide mainstream Australians with easier and lower-cost access to professional asset and wealth management expertise."
In addition to his executive experience at NAB, Pappas has held senior leadership roles with ABN AMRO in London. He holds positions on several boards since leaving NAB in mid-2018.
"When two of OpenInvest's original ivnestors introduced me to Andrew, I was immediately impressed with the company and its vision," Pappas said. "OpenInvest is a solution that has the potential to revolutionise the way mainstream Australians invest and it couldn't be timelier, given volatile sharemarkets, ultra-low interest rates, the increasing cost of personal advice, and the current needs of self-directed investors, including SMSF trustees."
OpenInvest has completed a Series A funding round, and have brought BlackRock into its marketplace.