Online wealth firm hires ex Pimco & Goldmans man as CIO
Italian online wealth manager Moneyfarm has made two senior appointments to support the growth of the company.
Richard Flax, previously portfolio manager at Pimco and Goldman Sachs Asset Management, has been appointed as chief investment officer. He will oversee the company’s investment decision-making process.
The second hire is Paolo Savini Nicci, who joins the firm as chief financial officer and has over 15 years’ experience in principal finance and private equity.
In the past, he has held roles at Morgan Stanley, AnaCap Financial Partners and Cabot Square Capital.
Co-founder Paolo Galvani (pictured) said: ‘Moneyfarm has an incredibly strong team that has achieved great things over the last five years. Richard and Paolo bring experience that will help the company in our next phases of growth – as we look to build out our product offering to deliver great customer outcomes for the full wealth lifecycle.’
The investment added to the £11 million the business already raised from Cabot Square and Italian United Ventures at the end of last year.
The firm, which launched early this year, currently boasts more than 80,000 active users and claims to have experienced a 60% increase in its user base for 2016 to date.
Source: Wealth Manager
