Tyndall sets up shop in Melbourne

Promina owned Tyndall Investment Management has accelerated its push into the retail space, unveiling plans to open a Melbourne office in January next year.

Tyndall chief executive Michael Good says the company plans to open a Perth office in January and a Brisbane office later this year.

Good said the move comes with support and funding from its parent Promina.

“Promina has made significant funding to our asset management, sales and marketing resources for the long term, as well as to other areas of the Tyndall business,” he said.

“We put the proposal to expand our sales team to the board with a 10 year horizon and they approved it.”

Tyndall head of retail business and marketing Phil Galagher says the sales team is being expanded to 14 with three people in Sydney and further appointments next year.

Galagher will head up the Melbourne operation, a city he returns to having worked at companies such as IOOF and Commonwealth Funds Management before joining Tyndall in 2000.

“The Melbourne office will be staffed by myself and three other people and will be a pure sales and marketing operation,” he said.

“We are recruiting the business development team in Melbourne at present.”

Galagher said the philosophy behind opening a Melbourne office is that it is the better way to service the market rather than form an interstate office.

“This is a full commitment to the Melbourne market and we will be looking at getting more independent advisers to use Tyndall products,” he said.

“We will be looking to get on adviser’s approved lists.”