Praemium completes executive team overhaul

Praemium has appointed Rachel Axton as chief governance and risk officer reporting to chief executive Anthony Wamsteker.

Axton joins from Netwealth where she took on a similar role.

She previously managed the Colonial First State customers solutions risk and compliance team and was the executive manager of risk and compliance at Commonwealth Bank.

Wamsteker said Axton's appointment will bolster Praemium's risk management bench strength at a time when challenges in areas such as cyber security have never been greater.

"Rachel will be a tremendous addition to our Executive Leadership Team. She will lead our risk management, compliance, company secretarial, legal, outsourcing and supplier management activities," he said.

"She is passionate about risk management and thrives in high-growth and client focussed businesses."

Axton's appointment completes the overhaul of Praemium's executive team, which commenced when Wamsteker was appointed permanent chief executive in August 2021.

Since then, David Coulter has been appointed finance chief, James Edmonds as chief product officer, Denis Orrock as strategy officer, including responsibility for distribution and all client-facing operations activity, Angela Godfrey, head of people and culture and Richard Large as chief technology officer.

"With the recruitment of Rachel, we have now completed the renewal of Praemium's executive leadership team," said Wamsteker.

"The new team has the experience and capability to ensure Praemium is positioned to realise the full potential of the market opportunity in the wealth management platform and related services for Australia's leading financial advisers and their clients."