Goldman Sachs JBWere Asset Management has appointed a new head of sales to drive its recently adopted strategy to offer distinctive funds to the Australian market.
Matthew Stovold, who was previously the New South Wales state manager with the Melbourne-based investment group, steps into the national sales role reporting to head of retail business Gordon Thoms.
In his new role, Stovold, who was announced as the Money Management Business Development Manager of the Year 2004 earlier this year, will now lead the sales team and have responsibility for the day-to-day management of the firm’s business development managers and distribution of JBWere’s products through intermediaries.
Stovold joined JBWere in 2000 after a year at National Australia Funds Management. Prior to this he worked at Sealcorp, also as a BDM.
“Matthew is well equipped to lead our sales team as we enter a new and exciting phase in the growth of our retail business,” Thoms says.
In the BDM of the Year award announced back in February, Stovold secured the most number of votes from financial planners, and the judging panel also gave him the highest scores to take out the award.
As part of the recently announced change in strategy, the group, which has $5.7 billion of funds under management in Australia, stated back in March it would move to offer distinctive funds to the Australian market, following the bedding down of last year’s merger and in light of an assessment that diversified funds have fallen out of favour.
