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.”