Capco, the financial services technology provider, has appointed Alvi Abuaf as partner and head of its North America Wealth & Investment Management Group.

Abuaf brings with him almost 20 years of consulting experience in wealth management, consumer and commercial banking, real estate, capital markets and insurance. Before joining the firm, he was president and chief executive officer of CPM Braxis USA, and prior to that he held several key positions at the likes of Citi, Capgemini and Ernst & Young.

"One of the largest challenges facing the wealth services industry is retention, as many investors have decided to move from large institutions to smaller firms promising more personalized financial strategies, higher transparency and improved services to meet their needs," said Abuaf in a statement.

"New focus on growth, regulatory changes and ever increasing innovation represent significant opportunities for the financial services industry and consequently for consulting."