The New York-based wealth aggregation platform is making the senior hire following a period of expansion and growth in headcount.

(Updates with Jay McNamara comments)

Masttro, a New York-based platform for aggregating and reporting complex wealth, has appointed Andrew Peddar as chief operating officer.

Peddar will oversee data operations, onboarding and client experience, bringing those functions under one leader. Based in the firm's New York headquarters, he will report to chief executive Jay McNamara.

Most recently, he was chief revenue officer at Next Matter, an AI and data orchestration platform serving asset and wealth managers. Before that he was vice president and general manager at Broadridge Financial Solutions. Earlier, as group chief operating officer of StatPro, he led commercial, client-facing and delivery functions across North America, Europe and Asia-Pacific.

The hire follows a period of expansion. Masttro said annual recurring revenue has risen 43 per cent over the past 18 months and headcount has grown 20 per cent since the start of 2025. Staff are based in seven countries, and the firm has offices in Zurich and Monterrey.

The platform consolidates public and private investments, real estate and collectibles across entities, currencies and jurisdictions. More than 400 single-family and multi-family offices, registered investment advisors, financial institutions and professional services firms use the platform, serving over 10,000 end clients in 40 countries. It has more than 750 direct custodial connections and tracks over 300,000 alternative investments.

AI tools form a growing part of the offer. Clients submitted more than 32,000 requests to the Masttro Intelligence Assistant in the first nine months of 2026. The firm gained ISO/IEC 27001:2022 information security certification in September.

Not just a surface layer
AI must be integral to a technology offering and not an add-on, Jay McNamara (pictured below), who has been CEO of the business since the start of 2025, told Family Wealth Report in a call.   

Jay McNamara

“AI isn’t a layer to drop on top…for us, it is about the bottom up,” McNamara said. 

He spoke to this news service shortly after his firm said in October it had appointed Andrew Peddar as chief operating officer, based in New York, and reporting to McNamara. That hire followed a period of expansion. Masttro said annual recurring revenue rose 43 per cent over the past 18 months and headcount grew 20 per cent since the start of 2025. Staff are based in seven countries, and the firm has offices in Zurich and Monterrey.

McNamara explained how Masttro views AI, the all-embracing technology that affects all corners of wealth management and wider financial services. (See examples here and here.) 

“I see AI as a mechanism to solve problems,” he said. “The investments we make [in technology, including AI] are focused on solving root cause problems.”

With intergenerational wealth transfer, family offices need a lot of support. Part of Masttro’s role is freeing up advisors’ and FOs’ time to focus on more important conversations and activities, he said. 

The “cash value” of all this technological cleverness is that it leads to higher client retention rates, he said.

Masttro enables users to go to portals of general partners at investment houses, for example, and capture the data they need, and information such as capital calls, drawdowns, key documents such as K1s, etc, he continued. McNamara said a challenge for technology providers and the wider wealth industry is balancing efficiency and speed against clients’ privacy.

The topic of “third-party” integrations arose. This relates to connections to other software platforms that clients regularly use in their business operations. An example is connecting Masttro’s investment book of record to the accounting book of record. The firm is concentrating on establishing partnerships that make it easier to share data between these systems. This includes direct integrations with general ledger and accounting platforms and through middleware platforms that connect Masttro data and data from general ledger and accounting platforms.

The privacy imperative
The discussion turned towards AI and privacy. 

“My client team does not see the end-client’s assets. Data privacy has to be an obsession,” McNamara continued. “Are you going to upload your entire family’s estate [onto AI]?”

Masttro, he said, is building its own AI platform so that clients can put their own documents onto it. “You are taking that captive on our platform.”

McNamara joined Masttro last year after having been a member of the executive committee at MSCI. where he led business, product, and commercial strategies for its Private Capital Solutions product line.