Client Lifecycle Management (CLM) solutions and services provider Fenergo is set to expand its business by foraying into private banking and wealth management.

The company has decided to set up a new Private Banking and Wealth Management division, which will be led by its new recruit Steve D’Souza.

The expansion forms a part of the company’s market expansion strategy and provide value-added CLM services to its financial institution clients.

D’Souza will be based in London and will directly report to Fenergo CEO Marc Murphy.

Murphy said: “The creation of this division demonstrates our commitment to growing the business even further and extending our award-winning CLM platform to new market segments.

“This division will build on the successes we have already achieved in the Corporate and Institutional Banking (CIB) space and will allow us to enhance and develop our proposition to Private Banking and Wealth Management clients further.”

In his new role, D’Souza will aim to facilitate growth to increase company footprint into new market segments.

D’Souza has been associated with Unisys, Odyssey, Parity, Propero and TCA Consulting in his 35-year long career.

In 2008, he established Sales Kinetics and has worked with more than 25 IT firms.

Commenting on the appointment, D’Souza said: “Fenergo has proven its ability to bring CLM technology to the CIB sector and our goal is to extend and enhance our onboarding and unique regulatory capabilities to Private Banking and Wealth Management professionals.

“These firms are encountering greater competition for customers, and by using Fenergo to streamline their processes and workflows, they can reduce costs and ensure better and faster customer experiences.”