11:FS Holdings Brings in Ex-Wealthify CEO Andy Russell to Lead Project Arnaud

Wealth Management is the last corner of financial services still stuck in the past. In a world of instant payments, 24/7 banking, and device-led interfaces, high-net-worth clients are still managed manually via PDFs at the next biannual face to face reviews in a lavish office with a man with a briefcase.

It’s outdated. It costs too much to run. And it’s no longer acceptable.

11:FS Holdings is here to change that. With Project Arnaud, they are building the world’s first truly digital private bank and wealth manager — a business designed from day one for speed, ultra-personalisation, and complete transparency. This isn’t a digital retrofit of legacy systems. This is a complete reimagining of how wealth should work in the 21st century.

A heavyweight at the helm

To drive this mission, 11:FS Holdings have appointed Andy Russell, former CEO of Wealthify, as CEO of Project Arnaud. Andy brings a rare combination of big-institution experience and challenger mindset — and a relentless drive to reinvent an industry that has resisted change for too long.

“The wealth industry has been disrupted from the bottom up, and private banks that manage the complex needs of high-net-worth individuals have not kept pace,” said Russell. “Modern technology provides for a completely different solution to these customer needs.  But no-one’s built it yet.  Project Arnaud’s mission is to create the modern world’s most bespoke wealth services, and I am very excited to be leading the charge.”

Backed by fintech pioneers

Andy joins forces with some of the most respected builders in fintech:

• Jason Bates (Monzo, Starling)
• Ewan Silver (Monzo, Nutmeg)
• Jamie Campbell (Bud, Fronted)
• David M. Brear, Group CEO of 11:FS

This is the same team that helped create the banks and platforms used by millions worldwide. Now, we’re turning that firepower on wealth — and we’re not aiming for incremental change.

As David M. Brear put it:“We’re not here to make small improvements. We’re here to fundamentally reshape the fabric of wealth services. Andy brings both the expertise and determination required to deliver on that vision.”

A $250 trillion opportunity

Wealth is a $250 trillion global market still running on infrastructure that looks like it belongs in the 1990s. That’s not just inefficient — it’s an extraordinary opportunity.

Project Arnaud will seize it by building a wealth platform that is:

• Faster — real-time, on-demand, always on.
• Smarter — driven by data and modern technology.
• Personalised — tailored at scale to every client.

This is wealth management without the baggage. A business built to unlock the future of a trillion-dollar industry.