Monday, June 17, 2024

New CIO at Wealthify: Promotion For Head of Investment Strategy

Wealthify, the multi-award-winning digital investment platform, today announces the appointment of David Semmens as Chief Investment Officer (CIO). Head of Investment Strategy since 2018, Semmens has been acting as Interim CIO since June 2020.

Michelle Pearce-Burke, the co-founder of the business and Chief Operating Officer (COO), had been the CIO until now. Supporting the firm’s ambitious growth plans, Michelle will focus solely as COO, working alongside CEO Andy Russell whilst retaining her position on the Investment Committee.

As CIO, David will sit on the Senior Leadership Team and he will continue to lead Wealthify’s investment strategy across the platform’s broad portfolio of investment options, from ISAs to SIPPs to general investment plans, all designed to make investing easy, accessible, and affordable for anyone. David is a Chartered Financial Analyst Charterholder with more than fifteen years of experience behind him. He has worked in several global financial institutions including HSBC and Standard Chartered.

The news follows a period of strong gains in 2020 across all Wealthify investment plans, including risk levels from cautious to adventurous, and a fast-growing range of Ethical Plans. Since their inception, eight out of ten portfolios have beaten their benchmark. David’s priority will be continuing to successfully navigate the market risks and opportunities that lie ahead for all customers, as markets begin to recover from the Covid-19 pandemic and in the aftermath of Brexit.

Andy Russell, CEO commented: “We are thrilled that David is taking on the CIO role permanently. He did a fantastic job last year, maintaining strong performance through an unpredictable and fast-changing period. The results of his investment strategies speak for themselves, and these give our customers confidence over their future performance under his stewardship. We are also delighted that Michelle has chosen to concentrate fully on her COO role given our emphasis on growth in 2021 and beyond. Michelle’s entrepreneurial spirit is behind much of Wealthify’s success to date and she brings with this an acute understanding of the world of investing. I am really looking forward to continuing our work together into the next phase of our growth so that we can deliver a truly great service for our customers and future customers.”

David Semmens, CIO said: “I am absolutely delighted to now be leading the talented investment team at Wealthify on a permanent basis. Despite the challenges of 2020, we have produced superb results for our customers, and I am looking forward to building on that success in the years ahead.”

Michelle Pearce-Burke, co-founder and COO added: “Wealthify has come a long way since our humble beginnings almost five years ago. Our investment performance to date has been strong – we have weathered some hard times, not least during our launch just weeks before the Brexit vote in 2016 and navigating the painful market crash last year due to Covid. The Ethical Plans we launched a couple of years ago have also seen exceptional growth, smashing their benchmarks and winning multiple awards. David’s expertise and knowledge have been an integral part of making this happen. So, I am pleased to hand over the CIO reigns to him knowing our customers’ Plans are in safe hands. And I am really looking forward to focusing on driving significant growth to meet our ambitious targets. As we enter this next exciting phase, customers can expect more from our existing products, as well as new product development and partnerships, all underpinned by the excellent, award-winning customer service we have become known for.”

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