A portfolio manager from a major European asset management group has been appointed to the board of Bath-based advanced analytics firm Actual Experience less than a month after its founding chief executive quit with immediate effect.
Harmesh Suniara, who works at Lombard Odier Asset Management (Europe), has joined Actual Experience as a non-executive director.
The firm said Mr Suniara, who graduated in Physics from the University of Cambridge, has been investing in UK smaller companies for over 15 years with a focus on the technology and life sciences sectors.
Last month Actual Experience, which is on a mission to “make the digital world work for everyone, everywhere, all of the time”, said in a statement that CEO and founder Dave Page had “stepped down from his position and as a director of the company” without giving further details.
Mr Page launched Actual Experience 13 years ago following a decade of cutting-edge research at Queen Mary University of London.
The firm later relocated to Bath, where Mr Page studied Electrical & Electrical Engineering at the university between 1987 and 1990, and also floated on the London Stock Exchange’s AIM market.
His departure coincided with a placing of 141.2m new shares in Actual Experience which raised £2.82m.
It also came a month after a contract with one of its key clients was terminated. The contract was valued at £1m over three years.
Actual Experience chair Kirsten English said: “We welcome Harmesh both to the board and to the company.
“He brings insights and skills that are particularly important at this point in the company’s evolution as we target aggressive growth with our new digital workplace management platform.”
Harmesh Suniara added: “I am delighted to be joining the board of Actual Experience. It promises to be an exciting time for the business with an excellent new leadership team in place and the company’s new product expected to go live this month.
“I look forward to working alongside my fellow board members to support the business in achieving its potential.”
