Praemium adds former Powerwrap chair to board

Praemium, which completed its acquisition of Powerwrap earlier this year, has added former chair and founding CEO of ME Bank, Anthony Wamsteker, to its board.

Before serving as the first CEO of ME Bank, Wamsteker spent several years as the chief executive for lending at AXA.

"With the successful takeover of Powerwrap by Praemium in October 2020, Anthony brings deep knowledge of the specialist platform sector and invaluable experience of the acquired business which should assist in a smooth integration process," said Praemium chair Barry Lewin.

Existing Praemium director Claire Willette, who has been on the board since 2017, was not put forward for re-election due to an administrative error. She will remain with the board in an advisory capacity until shareholders next reconvene to vote.

Reporting from Annabelle Dickson at Financial Standard contributed to this story.