Brown surfaces at S&P
Former head of IOOF retail funds management Jarrod Brown has landed a new post with research house Standard & Poor’s (S&P) as its executive, investment services.
Brown’s position is newly created and has been formalised to help S&P’s plans to strengthen its presence in the wealth management arena.
“We’ve been building our businesses in the wealth management space to provide research, indices and other services, like investment consulting for companies, for a couple of years now,” S&P managing director Chris Dalton said.
“We’ve now got critical mass with a number of new clients and we’re looking to accelerate our penetration particularly with the financial planner dealer groups and platforms that use our research and ratings and Jarrod’s availability has allowed us to pick an experienced person up who understands that part of the market and will be out there aggressively pitching for more business in this space,” he added.
Apart from driving the firm’s wealth management initiatives, Dalton said Brown will also be involved in S&P’s extension of its ratings and research activities in the direct property sector and the expansion of its services in Asian markets.
According to Dalton, the creation of Brown’s position falls into line with S&P’s new focus on qualitative research, having sold its managed funds data business to Morningstar earlier this year.
The new job will see Brown report to Dalton and work closely with the heads of the research, investment consulting and index services arms of the operation.
The appointment marks Brown first role since his surprise departure from IOOF in August last year after three years with the financial services company.
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
