Sequoia Financial Group has flagged a major rebranding of its two financial news sites, following court proceedings launched last year.
The firm will be commencing a significant refresh of its flagship brands Sharecafe and Finance News Network, which it described as the “first significant update in decades”.
The relaunch will include a suite of investor relations and financial services marketing solutions, Sequoia announced.
Jed Bertalli, who was recently appointed as head of Sequoia Financial Media last November, will lead the rebrand as the company looks to “transform how ASX-listed companies and product issuers engage with investors and financial professionals”.
Sequoia Financial Media is owned by Sequoia Financial Group, providing investor and media relations services across Australia. Through the brands Sharecafe and Finance News Network, it connects listed companies with investors, financial professionals, and financial advisers.
Commenting on the rebrand, Sequoia CEO and managing director Garry Crole said: “Sequoia remains committed to a long-term strategy of providing services to financial planners, accountants and their customers, while enhancing shareholder value.
“We are thrilled to welcome Jed to lead Sequoia Financial Media. His strategic vision and leadership will drive the next phase of growth and success for our media operations, while supporting our adviser and accounting businesses.”
Since joining Sequoia, Bertalli led a rigorous strategic review of Sequoia Financial Media. This saw it divest digital content platform Informed Investor and Corporate Connect Research last year and finalise the implementation of an end-to-end restructure.
“After months of leading a comprehensive strategic review, I’m excited to join Sequoia Financial Group at such a dynamic time for the whole business, and the financial services industry more broadly,” Bertalli described.
“The announced changes will only strengthen our market position and provide stronger value for our consumers, clients, Sequoia business units, and shareholders.”
Sequoia completed the acquisition of three interrelated businesses in April 2022: Informed Investor, ShareCafe and Corporate Connect Research.
In February 2024, Sequoia announced it had commenced proceedings in the Supreme Court of Victoria against Tim McGowen in relation to its acquisition of Informed Investor from McGowen and others, pursuant to a share purchase deed dated 29 March 2022.
“Sequoia alleges that Mr McGowen has breached various warranties and provisions of the Share Purchase Deed and is seeking damages in the order of $3,500,000,” it stated.
According to McGowen’s LinkedIn profile, he was the managing director of Informed Investor, managing partner at Corporate Connect, and managing director of Sharecafe. Back in 2022, Sequoia said McGowen would join the firm as the head of its Direct Division.
It was hoped the acquisitions would provide increased delivery of premium information and finance news to Sequoia’s client base, and assist in developing a digital and educational content platform for fund managers, ASX-listed companies, and the financial services industry.
In a business update in January 2023, the firm acknowledged the integration of the three companies had taken “longer than anticipated” and that it was “causing short-term pain to its bottom line”.
In a statement on 8 April, Sequoia said it received a defence and counterclaim from McGowen, stating: “McGowen is counterclaiming damages in excess of $1.1 million, the bulk of which comprises the deferred consideration that Sequoia did not issue McGowen in light of the claims Sequoia has raised against McGowen.”
The dispute between Sequoia and McGowen regarding the problematic acquisition was later resolved in August last year through a confidential settlement.
“Sequoia Financial Group Ltd is pleased to announce that the dispute with Mr Tim McGowen relating to the purchase of the issued share capital in Informed Investor, Sharecafe and Corporate Connect Research has been resolved by the parties.”
A month later, Sequoia announced it would be selling off its Informed Investor subsidiary to ASX-listed capital markets company Powerhouse Ventures.
The deal has seen Sequoia continue to distribute Informed Investor’s content and Powerhouse Ventures become a client of Sharecafe and Finance News Network for production and distribution of video content for its platform.
