Platform engine and fintech Bravura Solutions has appointed Andrew Russell as group CEO and managing director effective immediately.

Mr Russell took on the role on an interim basis in June after the unexpected exit of predecessor Libby Roy after only a year in the job.

Ms Roy stepped down after the firm announced plans to downsize and cut offices and staff numbers around the world as part of global cost cutting measures.

Mr Russell is a seasoned executive with 20 years in financial services, mainly in finance and technology companies. He was previously CEO and managing director of Australian-listed SaaS technology firm Class Limited where he led the business through a change strategy which included acquiring and integrating four companies in less than two years.

Prior to Class he was founding executive director and executive general manager, financial services, REA Group. He also worked for Virgin Money Australia.

Bravura chairman Matthew Quinn said “We are very pleased that Andrew has agreed to become CEO of Bravura. Following an extensive search process, it is clear to the board that Andrew is the best candidate for the role and he has already demonstrated great leadership whilst acting as interim CEO. We are confident that Bravura has a very bright future with Andrew as CEO.”

Bravura CEO Andrew Russell said: “It’s an honour to be appointed CEO. Bravura has very strong foundations as a leading technology business and we can now build on this, put the recent disruption and uncertainty behind us and focus all our energy on delivering great service to our customers and rebuilding value for our shareholders.”