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Avelo poaches iPipeline chief Andrew Simon

IPipeline chief executive Andrew Simon has left the technology provider to join rival firm Avelo where he has been appointed as UK general product manager.

He has been with iPipeline for six years, first as chief operating officer before moving on to become chief executive. He has previously worked at Aviva and Zurich.

Simon will join Avelo in December and form part of the UK board. He will report to Avelo chief executive Simon Badley.

The Lang Cat principal Mark Polson says the hire represents a sign of ambition from Avelo.

He says: “Andrew is a very high quality individual and it is clear Avelo has big plans. But equally iPipeline has shown a desire to develop recently. I suspect that with the Iress acquisition, Andrew just thought the opportunity was too good to turn down.”

Iress completed its £210m acquisition of Avelo last week. Adviser quotation portal Assureweb rebranded as iPipeline in April following the American technology firm’s acquisition of the business last year.

Writing for the Money Marketing website this week, Finance and Technology Research Centre director Ian Mckenna says: “It is easy to think of Avelo as primarily a supplier of software to the investment and protection markets but in reality the business had acquired a number of mortgage software suppliers in recent years which now gives Iress considerable potential for growth in this area, both in the UK and internationally.”

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