Robo advisor Moola poaches CIO from BlackRock

By Moriah Costa on Thursday 16 February 2017

Savings and Investment

The online wealth management firm has hired Simon Moore as its Chief Investment Officer, who joins from BlackRock-owned FutureAdvisor.

Online wealth management firm Moola is expanding its investment capabilities and has hired Simon Moore as its Chief Investment Officer.

Moore is the former Chief Investment Officer of FutureAdvisor, a robo advisor in the U.S. acquired by BlackRock in 2015. He previously worked at Putnam Investments, Microsoft, Anheuser-Busch and the Bank of England.

“The scale of Moola’s accomplishments and partnerships to date are impressive,” Moore said. “When looking at the recent US experience, the next few years in Europe should see tremendous growth of online platforms such as Moola.”

Moola was fully authorised by the Financial Conduct Authority in December 2016 and is the latest in a growing number of so-called robo advisors in the UK. The term is given to wealth management firms that use automated technology to invest in funds, usually through smartphones or online.

Clients can invest as little as £200 in a range of products and research that are provided by investment giant BlackRock. Investment money is held by Winterflood. The company also helps financial advisors offer a simplified service to customers otherwise unable to access traditional wealth management services.

The firm is backed by Run Capital, Odysseus Investments and private investors.

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