Praemium appoints CEO

praemium/Powerwrap/anthony-wamsteker/Michael-Ohanessian/

12 August 2021
| By Chris Dastoor |
image
image
expand image

Praemium has appointed executive director and interim chief executive Anthony Wamsteker to the CEO role permanently.

Officially effective from 16 August, 2021, Wamsteker took over from Michael Ohanessian who left the firm after almost a decade at the helm.

Wamsteker’s base remuneration would include a $600,000 salary inclusive of superannuation, with up to a 50% performance bonus, based on targets approved by the board.

Wamsteker previously joined the Praemium board in November 2020 following Praemium’s acquisition of Powerwrap where he was chair.

He had over 30 years’ experience in financial services, including nine yeas as the founding CEO of ME Bank, 12 years in funds management with National Mutual/AXA and three years as chair of Powerwrap.

Barry Lewin, Praemium chair, said: “At a time of heightened industry consolidation, when we are experiencing very strong growth across all parts of our business and we have commended the divestment process for our UK and international business, the board is delighted Anthony has agreed to accept the permanent appointment as CEO.

“He will contribute stability, leadership and his deep financial services, management experience and acumen to the wider senior management at an important time for the company.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 4 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 5 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 4 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 3 days ago

TOP PERFORMING FUNDS