Innovest Systems, the financial technology firm that specializes in trust accounting and wealth management services, has appointed Matt Mille as vice president of business development. 

Mille previously held senior account executive positions at the likes of SunGard Data Systems, SEI Investments, Oakbrook Solutions, and SS&C Technologies. In this new role, he will be responsible for managing new business development in the eastern US and Canada.

According to a recent study by technology analyst Ovum, global spending on IT by the wealth management industry is expected to grow 6.5 per cent by 2015, to $32 billion, as the number of affluent consumers looking for investment opportunities increases. Within this, the high net worth banking and financial planning sectors have been forecast to grow 7.6 per cent from the start of 2011 to the end of 2015, the retail brokerage sector will grow 6.7 per cent, while retail asset management will is expected to be up by 7.6 per cent.