Financial information and technology firm Defaqto has hired ex-Morningstar exec Chris Deavin to head its new analytics service.

Mr Deavin has been appointed director of analytics and will lead the  group’s insight and analytics proposition.

The service is aimed at helping fund managers and product providers with compliance, product development, marketing and distribution.

The first service to launch under this new area of business is Defaqto Compliance Analytics, developed to help manufacturers of financial products with their MiFID II PROD governance obligations.

Zahid Bilgrami, chief executive at Defaqto, said: “We’ve been looking to formally expand Defaqto Analytics and develop a landmark service for our customers.

“Chris is a great fit for our business and brings with him invaluable experience that will help realise the true potential of Defaqto Analytics, creating further opportunities for growth, not only for Defaqto but also across the wider SimplyBiz Group.”

From 2002 to 2007, Mr Deavin led sales teams at S&P Investment Services. He then joined Morningstar as head of sales UK from 2007 to 2013 before moving to head buy-side strategy from 2013 to 2016. More recently he's been managing director of sales for TS Lombard, an independent investment research firm providing services to wealth and asset Managers.

He is also the current chair of the European Independent Research Providers’ Association.

Mr Deavin said: “I am really pleased and very excited by the opportunity to join Defaqto and the SimplyBiz Group and to be a part of the next phase of the company’s impressive growth.

“This new strategic role will focus on working with clients and other stakeholders to create market-leading data and analytical products that surface the deep mine of valuable information that Defaqto and the wider group hold.”