Cofunds names Openwork's Davis as CEO

Cofunds has appointed Openwork CEO Martin Davis as chief executive.

Davis, who will join in the summer, is the long-term replacement for Brett Williams, who quit the platform in July last year with then-chairman Charlie Eppinger taking on the chief executive role on an interim basis.

Meanwhile, Kate Avery, currently non-executive chair of Openwork, has been named temporary executive chair to oversee the formal process for securing Davis's replacement.

Cofunds says Davis's distribution experience, which includes roles at Misys/Sesame and Zurich Financial Services, will help the platform develop a fully RDR-ready proposition for advisers.

Davis says: "The RDR has redefined the financial landscape and platforms have a pivotal role to play in supporting financial advisers and intermediaries as they look to reduce risk and increase efficiency.

"The team at Cofunds has put in place a sound strategy for the next few years which includes ensuring that the platform is able to support advisers through the RDR.

"I'm looking forward to picking up the reins and seeing Cofunds through this significant industry milestone and beyond. It's an exciting time to be joining the business."

He adds leaving Openwork was not something he had been seeking to do. "I could not resist the challenge of assuming a new position in an exciting and rapidly developing sector," he says.

"Openwork has everything in place to continue to be a leading network over the coming years and I wish the business well as it embarks on the next stage of its growth and development."

Davis joined Openwork as chief executive in July 2009 from Zurich, where he was CEO, Zurich Global Life Emerging Markets.

Previously, he worked as commercial director for Sesame Limited, at the time a wholly-owned subsidiary of Misys plc.

He also previously spent eight years working in a marketing role for Reuters.

Cofunds says Eppinger will remain as chairman of Cofunds.