US wealth manager doubles down on Australian growth
US wealth manager Focus Financial Partners, which includes Australia’s Escala Partners, has appointed a chief strategy officer to fuel further Australian growth.
Travis Danysh has been promoted from chief corporate development officer to chief strategy officer, having worked at the firm for the past nine years. He will also serve as executive chairman of Focus’ business units in Australia.
In the role, he will be responsible for the development and execution of Focus’ long-term strategic plan as well as its M&A and portfolio consolidation efforts.
Michael Nathanson, chief executive of Focus Financial Partners, said: “The creation of the chief strategy officer role at Focus and the appointment of Travis to that position are the latest important milestones for our business.
“This role is a natural evolution of his work and professional growth over the years, and I’m confident it will amplify his valuable contributions as well as our substantial investments in industry-leading long-term growth and service excellence. I’m looking forward to his continued partnership and leadership.”
Its Australian arm – Focus Partners Australia – helps its clients to protect, grow, and transition their wealth. Last month, it was announced that Melbourne-based wealth manager Escala Partners had joined the firm, which saw Ben James appointed as Escala chief executive, Torty Howard as chief operating officer, and Simon Dawkins as head of capital markets.
Nathanson said: “The Australian market is important for us, and as we continue to align our company across the markets and clients we serve, we see great opportunity in facilitating the convergence of our Australian operations into a cohesive business that can operate with all the capabilities and resources of a scaled organisation.”
James added: “Joining Focus Partners Australia allows us to set the foundation for our continued growth and evolution, through which we will deliver expansive solutions and a differentiated client experience through a unified and integrated global organisation.”
There has been much commentary around US firms targeting the Australian market as they are attracted by the upcoming intergenerational wealth transfer, cheap valuations of its financial planning firms, and opportunities within superannuation.
In recent months, private equity firms Oaktree Capital and CC Capital have taken stakes in AZ NGA and Insignia Financial, respectively.
AUTHOR
Laura Dew
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