The independent financial information, ratings and fintech business, Defaqto has appointed Glenn Porter as its new Chief Commercial Officer (CCO). In a new role for Defaqto, Steve Lomax joined the company as Chief Operating Officer earlier this year.
The appointments come amid continued growth since Fintel’s acquisition of the business in 2019. Following the announcement of increased demand for services and the expansion of its product lines, Defaqto has employed Glenn Porter to lead the development of its insight and data-led services to help people make smarter financial decisions.
Porter has 20+ years of technology and data industry experience. Previously, working at GBG Plc for 13.5 years as Chief Revenue Officer, Porter oversaw the AIM listed business grow from a value of £22m to over £1bn during his tenure.
This appointment follows the recent hire of Steve Lomax. Steve joined the Defaqto board as Chief Operating Officer (COO) in April 2022. In his role as COO, Lomax is responsible for ensuring the efficiency of Defaqto’s systems, processes, tools and governance.
John Milliken, CEO at Defaqto said: “We have been growing our development team and enhancing our AI capabilities to make our products and services even more beneficial to our customers. We have several exciting deliveries planned for 2023 across our offerings for consumers, advisers and product providers.
“Glenn and Steve are transformative leaders that bring a wealth of experience across Fintech and Data Services. They join at an exciting time for the business as we continue to grow our market share and expand and update our comprehensive suite of products and services. I’m delighted to welcome them both to the team.”
Porter added: “The business has seen substantial growth and is on a trajectory to achieve even more commercial success. I look forward to applying my experience and passion for data and technology to help lead Defaqto through this next growth phase.
“As demands for our services increase in the wake of Consumer Duty and Fair Value, investments have already been made not just to our technology and services but also in Defaqto’s people. Defaqto has an opportunity to expand its position as a market leader that turns data into knowledge to benefit both the consumer and commercial sectors.”