The Edinburgh-based business, whose Aveni Detect artificial intelligence-based platform uses natural language processing to monitor customer interactions, said Mr Clark will work closely with founder and chief executive Joseph Twigg and chief operating officer Jamie Hunter to build out a diverse board, expand and open up sales opportunities, and a continued focus on offering top technology.
It added that its new chairman has had a 40-year executive career in asset and wealth-management with S.G. Warburg, Mercury Asset Management, and Merrill Lynch, culminating in his role as executive director at Standard Life, now known as Abrdn. Since 2018, he has held major non-executive roles in financial services including chairman of Axa Investment Managers UK, senior independent director at Rathbones, and chairman of The Merchants Trust, the fintech firm added.
Mr Clark said: “I have known Joseph from his previous investment roles, and always been impressed by his energy and desire to find solutions. I’ve followed Aveni closely since it was founded in 2018, so it was a role I was delighted to accept. The business has significant potential for scale, and has focused very well so far on bringing in excellent people to develop a product which is truly solutions-focused for the financial services industry and regulatory needs. We will continue that as we build the board – identifying the right mix of experience, skill and diverse thinking to help the business thrive and expand.”
Mr Twigg said: “Colin brings the essential mix of executive and non-executive experience, which Aveni needs to move to the next phase of its strategic growth. His deeply embedded investment experience, strategic approach, and honest insights will be crucial to help us address challenges and challengers, as well as identify new opportunities for market expansion. We are excited and proud to have him as our chairman, and look forward to working with him to make real impact.”
Aveni added that the strategic appointment comes in the wake of a recent funding round of £2.75 million, led by The Tricapital Syndicate LLP and Par Equity supported by Scottish Enterprise.