Google manager joins robo-advice firm
A Google manager has joined robo-advice firm MoneyFarm as it steps up plans to enable clients to use their mobile devices to manage all aspects of their investments.
Michele Battelli was a senior technical program manager at the search engine giant in California.
He becomes the digital wealth management firm's first chief product officer and will head up its new product development and its roll-out into the UK savings and investment market.
His appointment follows that of David Jeffery as its new chief technology officer. Together they will work on developing the firm's mobile-first approach to allow investors to "manage every aspect of their wealth portfolio from a mobile device".
Mr Battelli was part of the original launch team of Google OnHub, its new smart wi-fi router, and also co-founder of the Google Adventure team which took StreetView to some of the world’s highest peaks including Everest.
MoneyFarm said it had plans to build on its existing customer base of 50,000 registered users using technology, to deliver advisory and discretionary services at a fraction of the cost of a traditional wealth management firm.
Its model combines an online or app-based user interface and algorithms aimed at providing a high quality advisory service.
Mr Battelli will be responsible for supporting the roll-out of MoneyFarm’s new ISA offering in the new year.
This will be designed to provide high-quality investment returns, underpinned by structurally low cost investments such as Exchange Traded Funds.
Paolo Galvani, chairman and co-founder of MoneyFarm, said: “Product design and innovation is at the heart of what we do so we are delighted that Michele, who shares our vision on product innovation, is joining us.
“Michele’s experience in implementing and overseeing major ground-breaking programmes at one of the world’s leading tech companies, means he has exactly the right kind of expertise and passion to help us deliver the kinds of innovative, high quality products that investors are searching for.”
Mr Battelli said: “MoneyFarm has developed a highly innovative and exciting model, which has enabled it within a short space of time to become a significant player in the European fintech space. I look forward to help build on its success and deliver innovative technologies that will allow MoneyFarm to address people's needs for high quality products.”