Wealthtech firm Avaloq has hired Peter Lamberti as strategic sales director and expanded its UK team.

Lamberti will be based in London and focus on developing strategic relationships and expanding Avaloq’s presence.

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In addition, he will be promoting the company’s Software as a Service (SaaS), Business Process as a Service (BPaaS) and on-premise solutions.

Lamberti joins from Exela Technologies where he had worked for the past three years, most recently as sales director. Prior to Exela, he held senior positions at CGI, ATOS Consulting, Capgemini, and SAP. He will report to Barry Frame, Avaloq’s UK sales director, and Bruno Kellenberger, head of global accounts.

Lamberti said: “Avaloq has become the leading provider of BPaaS and SaaS solutions for the UK wealth management sector, with strong momentum to build further on its established client base of tier 1 firms. Avaloq is firmly at the centre of a rapidly growing digital wealth management sector as financial institutions look to remain competitive, agile, focused on costs and benefit from powerful data analytics at scale.”

Jonathan Davis, UK managing director at Avaloq, said: “We are delighted to welcome someone of Peter’s calibre and experience to our growing London team. He has a deep understanding of the wealth management sector and exceptional client experience. Peter will play a fundamental role in Avaloq’s ongoing growth.”

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Lamberti’s appointment means Avaloq now has more than 175 members of staff in the UK. This includes around 65 in the London office. It also has over 2,300 globally. The expansion runs parallel with Avaloq’s growth within the UK implementation team, as will as the R&D facility in Edinburgh.

Avaloq has also just launched its personalised investment management solution, Avaloq Wealth.

Avaloq Wealth is the first of a new core-agnostic suite of digital wealth management platforms. It enables highly personalised investment advice and bespoke services. It is available stand-alone, away from Avaloq’s other software.