Macquarie Private Bank growth on track
MACQUARIE Private Bank is continuing its focus on growing its presence in the private clients market with the expansion of its senior advisory team.
Former Citigroup Private Banking assistant vice-president Olivia Jones has joined Macquarie’s Sydney office in the new position of private banking senior adviser, while Cameron Hagger joins as associate director and adviser, based in the group’s Melbourne office.
In January this year, Macquarie Private Bank head Guy Hedley announced a target of tripling the private banking division, which he says is on track.
“Currently, we have doubled the size of the advisory base since the first quarter, and now have 12 advisers. And we will continue working to build the business to between 20 and 30 advisers, with 30 client relationships each,” Hedley says.
He says the group’s provision of tailored investment solutions to clients, and the growth of the business, requires highly qualified and technically trained staff.
Jones’ experience also includes time spent with UBS Banking in London and New York as associate director in charge of the Art Banking division, while Hagger has more than 16 years experience with William M Mercer, much of it as a senior manager.
Macquarie Private Bank has also made two internal promotions, with Beata Kent and Jeremy Sadleir moving from associate adviser positions to become advisers.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
