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Investments, Platforms

OpenInvest adds to board

Investment platform provider OpenInvest has expanded its board of directors with the appointment of Susan Allen.

Allen joins OpenInvest having spent 16 years at the RACV in a variety of senior executive roles responsible for such activities as launching new businesses and insurance and home services products.

The OpenInvest board is looking to benefit from her considerable corporate governance experience gained through a number of company directorships across a variety of industries, including financial services, consumer services, logistics and distribution.

In addition, she brings a wider range of skills via her involvement in the infrastructure and public sectors.

Commenting on the development, Allen described it as an exciting time to be appointed to the OpenInvest board.

“In the post-financial services royal commission world, the way Australian investors access professional assistance is set to change dramatically. As OpenInvest has been designed with investors’ needs in mind, I believe it’s poised to play a significant part in this change,” she said.

“I believe my experience in financial services, in particular, as well as a strong focus on the use of new technologies to solve consumer problems, equips me to provide valuable input to the OpenInvest board.”

Allen join the three other existing non-executive directors in the organisation, being former Schroders Australia chief executive Greg Cooper, founding CommSec managing director Paul Rickard and former CountPlus director and Smithink founder David Smith.

“We’re delighted to have Susan join the board. Her varied experiences, especially at the RACV, where she was involved in the launching of new products and services, as well as her various director roles, is exactly the skill set we need as we grow the business,” OpenInvest co-founder Andrew Varlamos said.

OpenInvest was launched in November 2018 to provide SMSF trustees with a marketplace in which they could engage directly with a number of respected fund managers. The offering was launched with six original managers, but has since added Macquarie Investment Management and Clime Investment Management to the platform.

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