Octopus-owned embedded investment platform Seccl has unveiled its new Irish business, Seccl Ireland DAC, as it looks to expand into Europe on the back of client demand.
The founder of open-architecture investment platform Conexim, Ronan Gahan, has been appointed as CEO of the new business. Founded in 2010, Conexim was one of the largest investment platforms in the Irish market and was acquired by Irish Life Group in 2020.
Gahan is also the founder and former chair of the Irish MiFID Industry Association and sits on the Central Bank of Ireland’s Financial Industry Innovation Forum. He will work closely with executive chair David Ferguson and Seccl’s wider leadership team, which is being further strengthened by the appointment of Miguel Ortiz as senior adviser.
Ortiz was formerly group COO at M&G and chief transformation officer at Allfunds, as well as a partner at BCG.
Ferguson said: “These are the first major steps in a European journey we’ve been building towards for some time. With Seccl Ireland DAC established and Ronan at the helm, we’re putting real structure behind that ambition.
“Our expansion is being shaped by existing customers that want to bring scalable investment propositions to more markets. Ireland is the right place to start: it gives us a strong financial services ecosystem, a clear market opportunity and the foundations to build a repeatable model for further European expansion. There’s plenty of work ahead, but the direction is clear, and the opportunity is enormous.”
Gahan and the team in Ireland are are actively engaging with the development of the proposed new Personal Investment Account (PIA), with a view to being among the first infrastructure providers ready to support firms once the new investment account structure is introduced.
Gahan said: “Ireland has a strong and established financial services ecosystem and, with the proposed new Personal Investment Account (PIA) in development, there’s a clear opportunity to help more first-time investors and savers access the market – whether through established financial institutions or digital-first firms.
“To do that well requires infrastructure that can support low balances, broad asset choice and efficient operations. Seccl has already proven that model in the UK, where its technology powers investment for platforms including Monzo, GoHenry and Söderberg. I’m looking forward to helping bring that experience to Ireland, and to building the foundations for Seccl’s wider European ambitions.”
