Masttro, a leading WealthTech provider serving wealth owners and their advisors, has announced the appointment of Jay McNamara as chief executive officer (CEO), effective immediately.
His leadership is expected to accelerate Masttro’s growth trajectory. He has a proven track record of scaling global businesses and driving client-focused innovation, which positions Masttro to redefine wealth management further.
Former CEO Padman Perumal will transition to a role as board advisor, focusing on strategic growth initiatives.
Masttro is a WealthTech pioneer known for delivering innovative technology solutions for ultra-high-net-worth (UHNW) and high-net-worth (HNW) clients.
The company partners with family offices, registered investment advisors (RIAs), asset management firms, banks, and trusts to provide sophisticated tools that simplify estate management and wealth transfers.
McNamara brings over 25 years of experience in financial services to Masttro. Before joining, he held senior leadership roles at MSCI Inc., including overseeing its Private Capital Solutions product line.
His other key roles at MSCI included Head of Real Estate, Head of Americas Client Coverage, and Global Head of Asset Owners and Investment Consultant Coverage. Additionally, as President of Burgiss from 2020 to 2023, McNamara led the company’s expansion to over 1,000 clients across 40 countries, culminating in its acquisition by MSCI in 2023.
This leadership transition is part of Masttro’s strategy to solidify its position as an industry leader.
Co-founder and executive chairman Javier Gutierrez expressed confidence in McNamara, saying: “Jay’s strategic vision and deep industry expertise will be instrumental to driving our continued growth and innovation, and we extend our gratitude to Padman for his significant contributions as CEO over the last several years.”
In 2024, Masttro achieved significant revenue growth, adding over 75 high-profile clients, including major financial institutions. The company’s continued advancements in AI and data solutions reinforce its mission to set new standards in wealth management technology.
McNamara highlighted the opportunities in the sector, stating: “Some $84tn will be passed down to younger generations over the next two decades and wealth owners and their advisors need more sophisticated technology to manage their complex estates and these transfers. Masttro is leading this tech revolution, and I’m thrilled to be part of such a talented team. I look forward to building on our successes and reaching our next stage of growth.”
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