Ex-Google engineer Paul Taylor is no longer part of Killik & Co’s delayed robo-investing venture.
Taylor was a director of Buzz Software Limited, a company under the ultimate control of Killik & Co founder Paul Killik (pictured), which had been tasked with building the proposition.
His directorship was terminated late last year, according to documents just posted at Companies House. He joined the company in August 2015.
According to Killik & Co’s latest accounts to the end of March 2017, the firm loaned Buzz Software Limited £2.7 million to develop the new service. This comprised a £1.7 million loan from Paul Killik and a recharge of £1.3 million in marketing costs to Killik & Co.
This was on top of a previous £2.5 million Killik invested into firm the prior year.
The launch of the firm’s robo-advice app, named Silo, was originally slated for early 2017, then in the autumn, but it has still not been released.
The app is an attempt to break into the mass-market by allowing investors access to its range of funds for a minimum monthly investment of just £25.