Spitfire appoints first CEO following Wealthtrac acquisition

3 June 2019

Spitfire Corporation has appointed its first chief executive officer (CEO), signalling the financial technology company’s substantial growth plans following its acquisition of Wealthtrac.

Matthew Johnson will join the firm having previously been chief executive at Wealthtrac which was acquired by Spitfire last week.

At the time of the acquisition announcement, Spitfire said the acquisition would provide an immediate boost to funds under management, the addition of substantial revenue and the broad distribution network of self-licensed advisers who would support future growth.

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Johnson joined Wealthtrac in 2005 as CEO and managing director and the firm now has over 6,000 adviser clients and $2 billion in funds under management.

Spitfire chairman, Graham Maloney, said: “We are very pleased to welcome Matt as Spitfire’s CEO. It is a pivotal time for the company as we take out digital wealth platform to a broader market. Matt is an accomplished financial services executive with strong leadership skills and a successful track record of delivering significant growth in collaboration with clients.”

Meanwhile, the firm also hired Anil Sagaram as chief product officer from BT Financial Group where he led the product development and design teams responsible for the development of BT Panorama’s investment, managed accounts and superannuation capabilities.

Prior to this, Sagaram worked at Morgan Stanley, Macquarie Bank and GBST.

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