The CFO comes on board as the firm continues to expand in Asia, Europe and the Americas.

Finantix, which provides software for banking, wealth management and insurance, has appointed Tim Wood as chief financial officer, a newly-formed position at the firm.

Wood previously worked for five years at Intelliflo, an HgCapital-backed software-as-a-service business serving independent financial advisors. Prior to this, he was financial director at the venture capital backed start-up Higher Education Online. He has also been finance director for several other businesses, including the Nasdaq-listed workforce management software company Clicksoftware Europe.

The firm said that Wood is the latest in a series of senior appointments to support growth in the European, Asian and North American markets. The appointments follow the strategic investment in Finantix by the global private equity firm Motive Partners, announced in December 2018.

In March last year Finantix bought smartfolios, a Singapore-based business creating quantitative-based investment tools suitable for digital wealth advisors. The two firms are building a range of investment tools which, among other things, create robo-run portfolios that suit individual needs, fine-tune investments and analyse how investments perform.