A group of former senior JP Morgan executives have launched a new wealth management platform with the help of a $4 million investment round.

The Vestrata proprietary technology platform aims to deliver a suite of discretionary, advisory, alternatives and ESG investment solutions that will help wealth managers “drive improved client engagement, control risk and reduce costs”.

Vestrata’s services will be delivered through an integrated, scalable and modular platform.

The company is led by co-founder and chief executive Mark Le Lievre, who was previously global head of products and platforms at JP Morgan Private Bank and head of investment content at UBS Wealth Management.

The wider management team includes a number of former executives from JP Morgan and other global financial institutions, including Doug Wurth, Vestrata chairman, who formerly led the international Private Bank and alternatives businesses at JP Morgan, and Kim Lennen, Vestrata co-founder and chief technical officer, and formerly CTO of JP Morgan Private Bank (Europe).

They are joined by Lea Blinoff, Vestrata head of solutions, and former managing director at JP Morgan, Arun Sinha, Vestrata chief marketing officer and former CMO of JP Morgan Wealth Management, and Eric Laget, Vestrata chief legal officer, and former in-house counsel at JP Morgan Asset Management.

In addition, Tim Riseborough, Vestrata chief financial officer and chief operating officer is the former COO at HSBC Commercial Bank, and Sarah Newman, Vestrata chief commercial officer was formerly head of investment products at Barclays Wealth Management.

Vestrata chief executive Mark Le Lievre said: “We are entering an era where wealth managers will no longer be able to rely on market appreciation to drive revenue growth. We know from first-hand experience the significant and accelerating financial and regulatory challenges faced by the wealth management industry.

“If firms are to engage with clients most effectively they need to deliver differentiated investment solutions and use a sophisticated platform to enable advisors to engage their entire book of business.”

Vestrata head of solutions Lea Blinoff added: “We integrate a variety of investment solutions, products and asset classes with powerful portfolio analytics, reporting and a robust risk management framework, to ensure advisors can deliver advice specifically tailored to their clients’ needs in a scalable and compliant way.”

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