Investment platform provider Praemium has appointed Anthony Wamsteker as its new chief executive officer (CEO). He will be replacing Michael Ohanessian in this role, effective from 16 August, following Ohanessian’s sudden departure from the company in May.
The news follows Praemium’s announcement in June that it will be selling its international operation following a strategic review, in order to focus on the Australian market.
Wamsteker was previously Praemium’s executive director and acting chief executive following Ohanessian’s exit. He joined Praemium in November 2020 following Praemium’s acquisition of Powerwrap, where he was chairperson for three years. Wamsteker brings over 30 years of experience to the role, having previously worked with ME Bank (where he was the founding CEO) and National Mutual/AXA.
Praemium’s chairman Barry Lewin said he was ‘delighted’ that Wamsteker had accepted the role.
“At a time of heightened industry consolidation, when we are experiencing very strong growth across all parts of our business and we have commenced the divestment process for our UK and international business, the board is delighted Anthony has agreed to accept the permanent appointment as CEO,” he said.
“He will contribute stability, leadership and his deep financial services, management experience and acumen to the wider senior management team at an important time for the Company.”