Wealthtech Luma Financial Technologies has opened an office in Switzerland and launched in the Europe market.
Luma is a multi-issuer structured products platform in the US. It has launched in Zurich to provide more firms access to its platform, which streamlines the process of using and creating structured solutions.
The Luma Europe office will be led by David Wood, managing director of Luma Financial Technologies’ international business. He holds 18 years of experience in investment banking and previously served as managing director at both Societe Generale and Barclays.
Wood also was part of the team behind Asian structured product platform Contineo, having served previously as a board member and chairman at the firm.
Furthermore, Wood will build a local team in Switzerland, focused on business development and client services.
“As a leading structured solutions fintech platform, we look forward to bringing our technology to wealth managers and private banks in Europe,” said Tim Bonacci, CEO of Luma Financial Technologies. “Having recently expanded our presence into Latin America and now Europe, we’re excited to help advisers on a global scale deliver a more predictable and transparent investing experience to their clients in the most efficient way possible.”
Wood said: “Luma is a high-quality, scalable platform that can be seamlessly integrated into buy-side infrastructure to deliver market-leading lifecycle services and consistent processes and controls. Luma’s focus on partnering with advisers to deliver better service has been key to its success and I am delighted to be leading its ambitions in Europe as it expands to meet the needs of clients around the world.”
Launched in 2011, Luma has helped advisers in the US and Latin America to learn, source, compare, create, price, and implement structured products. The platform is also fully interactive and customisable to match desired offerings, unique product approval, work flow, and certification requirements.