Online share trader Hatch gets new acting boss after two co-founders announce departures

Kristen Lunman said she wanted to keep working in financial well-being and supporting women and families. Photo / Supplied

Online investment platform Hatch has a new chief executive after co-founder and CEO Kristen Lunman resigned.

FNZ acquired Hatch last year. FNZ New Zealand chief executive James McDonnell said Jarred Sewell was now Hatch's acting chief executive.

Sewell co-founded Hatch in 2018 with Lunman, Natalie Ferguson, and Jakub Chodounský, and recently served as its chief platform officer.

"Hatch is in an excellent position to keep growing, and we are pleased that Jarred is stepping into the role," McDonnell said in a statement.

"He has been a strong leader in the business from day one, and his talent for cultivating the skills and contributions of the wider team underpins the organisational culture of Hatch."

McDonnell said Lunman was still available to help the new acting CEO and executive team.

Ferguson has also resigned. She had been Hatch's chief experience officer.

"We thank Natalie and Kristen for their respective contributions as our outgoing chief experience officer and CEO, and wish them the best for their next ventures," McDonnell said.

Lunman said she was still forming her plans for the future, but wanted to keep working in financial wellbeing and supporting women and families.

"Hatch is in a new phase now and is in great hands. With two of the founders staying on and a crack team, it is going from strength to strength inside FNZ as a global powerhouse," Lunman added.

Hatch was founded in 2018 to give consumers direct access to investing in US sharemarkets.

Kiwi Wealth sold Hatch to FNZ for an undisclosed sum last year.

FNZ said Hatch now served more than 130,000 users and more than NZ$2 billion had been transacted on the platform.

FNZ is a global financial technology firm that as of late last year had US$1.5 trillion in assets under administration.

When FNZ bought Hatch, it said Hatch would remain an autonomous business unit within the FNZ Group.

The deal would let Hatch retain and follow its entrepreneurial instincts while gaining access to FNZ's infrastructure and technology, FNZ said at the time.