The ex-chief executive of James Hay’s parent company IFG Group has been unveiled as the new CEO at Financial Planning tools provider EValue.

Paul McNamara, who left IFG in the latter part of 2016, takes over from Mark Cappell.

Mr McNamara previously held senior leadership roles at McKinsey, AXA, HBOS, Standard Life and Barclays.

He is a qualified actuary and began his career in Ireland, working at New Ireland Assurance and Bank of Ireland.

EValue, which provides advisers with asset modelling and Financial Planning tools, stated it was looking at robo-advice, the re-engineering of the advice process and the workplace as prime opportunities for corporate growth.

Bruce Moss, EValue founder and strategy director, said: “Paul’s appointment will support our growth trajectory and help us achieve our market potential.

“His previous management experience will be invaluable in broadening our business delivery and enabling us to serve our institutional and adviser clients with the most relevant solutions to support the financial needs of consumers. With Paul’s leadership and our market-leading asset allocation and modelling capabilities, we are well placed to offer the most reliable and robust solutions.”

Mr McNamara said: “I am excited to be joining EValue as the industry is focused on improving the quality and accessibility of advice and the opportunities that new technology can bring to financial planning and investment recommendations.

“EValue has a dynamic team and is poised to lead in the emerging market for robo-advice and artificial intelligence solutions.”