Financial services technology provider, GBST, has appointed Nick Frolich to its wealth management business.
Based in GBST’s Sydney office, Frolich will be responsible for driving sales and new business across the Australian, New Zealand and Asian wealth markets. He will have a particular focus on the firm’s Composer platform, which administers managed funds, structured products and retirement products.
Frolich previously worked for DST International (DSTi), where he was director in charge of sales and marketing for the past 10 years, and established the firm’s retail wrap offering. With 25 years experience in financial services, Frolich has also held senior positions at Macquarie Bank.
Robert DeDominicis, head of GBST’s global wealth management division, said Frolich’s appointment underpinned the technology provider’s strategy to drive growth and market share by leveraging the multimillion dollar investment the company has made in developing the Composer platform.
“As regulatory changes and challenging investment markets add to cost pressures in the wealth management industry, flexible technology solutions will be essential for the future growth of wealth managers,” DeDominicis said.
Frolich said he believed the platform would be well placed in the market as it combines broking and wealth management solutions. “The convergence of these markets is gaining momentum driven by legislative changes such as FOFA and investor demand for direct equities exposure,” he said.
