(Pictured: Nick Frolich)

The Avaloq technology group, which is building the new BT Wrap platform, has strengthened its senior management following the departure of country head Iain Dunstan last month.

Avaloq, a global company, announced last week the recruitment of Nick Frolich and Mani Kastellas, both well known in the Australian financial services systems sector.

Frolich becomes regional director, responsible for market development, and Kastellas becomes regional product manager.

Frolich most recently worked at SAP, but before that held senior roles at GBST and DST. Kastellas worked at Bravura, which Iain Dunstan headed up for several years, and Simcorp. Dunstan is now managing director, wealth, at banking systems company Rubik Financial.

Peter Scott, general manager of Asia Pacific for Avaloq, said: “The decision to develop our presence in Australia reflects increasing levels of new business demand following the recent go-live of one of Australia’s largest banks with Avaloq. It has been a strong year in the Asia Pacific region for the company, with a series of client wins and the creation of a new regional BPO centre underway in Singapore…”