GBST, a provider of software for capital markets and wealth administration through its GBST Syn~, GBST Shares and GBST Composer platforms, has appointed Robert De Dominicis appointed managing director and CEO with immediate effect. Dr John Puttick, meanwhile, has decided to retire from the Board after 31 years as Chairman of GBST, which he founded in 1983.
De Dominicis co-founded the wealth management software provider InfoComp in 1988. The business was acquired by GBST in 2007 to extend the company’s services into wealth management and provide a UK presence with a strategic platform for international growth.
Dr Puttick said the appointment followed an extensive review of internal and external candidates in Australia and internationally which led the Board to conclude that he was clearly the best candidate for the role.
“Under Robert’s leadership, GBST’s wealth management business has made outstanding progress, trebling sales in five years and achieving tremendous growth in the UK,” he said. “He is very well placed to propel GBST further as it grows into a truly global company.
De Dominicis has been appointed on a rolling contract with no fixed term and no increase to his existing fixed remuneration. His total remuneration package has a higher proportion at risk subject to him meeting short-term and long-term performance criteria, to ensure his remuneration aligns with total shareholder value creation, the company says.
He will be based in the UK, dividing his time between Australia, the UK and Asia. He said that the appointment of a new managing director and chief executive officer had confirmed the strength of GBST’s succession planning processes.