Avelo Change of Leadership Signals a Drive for Growth from Client Partnerships

18 October 2012

Avelo, the UK's leading provider of technology solutions to the financial services market has today announced that Simon Badley who is currently Sales and Marketing Director will take over the role of managing director. Chris Noblet will be staying with Avelo for at least six months in the role of interim Chief Operating Officer to achieve a seamless handover. This change has been planned for some time as part of Avelo's long term corporate development program.

Chris Noblet joined Avelo in November 2010 and has successfully delivered a business transformation program which has seen significant improvements in cost management, software development capability and senior management recruitment and development. Alongside this program, Chris has overseen double digit growth in top and bottom line financial performance and the delivery of a series of market leading advances for Avelo's clients such as:

· RDR readiness of all of Avelo's products and services, well in advance of the year-end deadline, giving advisers the time and support to adjust to this change

· End to end electronic Annuities new business processing through the launch of the Electronic Common Quote Form and Avelo Annuities Plus

· An enhanced executive, senior leadership team and employee base through talent acquisition and development and the establishment of a graduate recruitment scheme attracting the UK's leading software industry graduates and future leaders

· The development of a next generation technology platform that will underpin the delivery of all of Avelo's product road map solutions in adviser, mortgage and product provider markets

Simon Badley joined the business in November 2011 as part of the company’s succession planning process. Simon has extensive experience in all of Avelo's market sectors and has already cemented client relationships for Avelo's current and next generation products. During his tenure Simon has re-engineered marketing and sales groups to become more client focussed, with dedicated customer account management. These teams are building client partnerships to leverage Avelo's domain expertise to solve clients’ business challenges.

Chris Noblet commented: "Since attracting Simon to Avelo, we have forged a very strong working partnership and he has proved that with his deep industry expertise and relationships, he is the ideal leader to take Avelo on the next stage of its corporate plan. My specialist role to oversee a transformation of Avelo, in order to position it for growth through client partnerships, is nearing completion and now is the right time to hand over the reins to someone who can grow those partnerships, particularly in a post RDR world”

Simon Badley added: "I am delighted to take up the leadership of Avelo from Chris who has developed the business to have a rejuvenated operational capability. I look forward to getting alongside our clients to support them as technology becomes the key enabler of growth. Avelo's next generation technology solutions are already leading the market in mobile and direct to consumer engagement. We drive efficiency into every part of the financial services and mortgage markets to deliver optimal growth and profitability for our clients.”

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