WealthO2 names chair

Neil Roderick has been named the chair of WealthO2.

Roderick retired in 2013 as chief operating officer of Macquarie's banking and financial services group. During his 14 years with the organisation he founded Macquarie Wrap, the Professional Series, the retail life insurance businesses, and led the Cash Management Trust.

Roderick says he's looking forward to working with the WealthO2 team to continue its growth trajectory. "It's impressive to see how WealthO2 is using the latest technology and some smart thinking to work with advisers to develop a new generation of platform, particularly in the managed accounts space," said Roderick. "This approach enables it to respond and develop quickly, and to operate at a lower cost with fewer staff than other models. This brings commensurate benefits to advisers and their clients, which WealthO2's simplified and transparent fee structure demonstrates."

Roderick is joined on the WealthO2 board by Darren Pettiona, co-founder of HUB24. WealthO2 CEO and co-founder Shannon Bernasconi said these appointments bring a depth of experience to the business. "The appointment of these two financial services stalwarts to the WealthO2 board comes as WealthO2's assets under management hit the $2.3 billion mark - a size that has been reached in less than 4.5 years.

"The journey is never over however, with the recent evolution of our user experience delivering more features and functionality. This further demonstrates that WealthO2 is the next generation in advice-led technology."