Rod Bristow

AMP-backed fintech Macrovue has announced it has appointed Rod Bristow as CEO.

Rod is a former Chief Operating Officer and alternate Managing Director of Australia’s largest online stockbroker CommSec.

Most recently he was Managing Director and CEO of Infocus Wealth Management – a national financial advice, asset management and technology group.  In these roles, Rod led large teams to drive substantial growth organically and via mergers and acquisitions.

Macrovue will retain the expertise and capability of Founder Dr Sid Sahgal, who will move into the newly created role of Chief Operating Officer.  This strategic move will provide substantial depth of capability for Macrovue to deliver on its vision of providing Australians with exposure to global investment opportunities and a simplified way to invest in the world’s most successful companies and leading sectors.

Macrovue Chairman Brendan Foley said “Sid and his team have done an incredible job in rapidly growing Macrovue in our three key target markets of SMSF trustees, retail investors, and financial advisers.  We are embarking on an exciting growth phase of the business and are looking forward to benefiting from Rod’s expertise to assist with the next stage of Macrovue’s evolution.  To help with this growth phase, we will be embarking on a Series A capital raising round to scale the business and leverage the successes we have seen to date”.

Macrovue has recently integrated with the SuperConcepts Connected Services SMSF investment product marketplace, providing SMSF trustees direct access to Macrovue’s global equities investment solution. Macrovue is also working closely with several large financial advice firms to provide advisers with affordable access to global equities, ETFs, and Macrovue’s model portfolios.

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Macrovue is an online brokerage service using in-house research to construct theme-based portfolios of global companies, giving Australians a unique and easy route to holding international equities. The funding round includes Brendan’s Gatica Investments, high net-worth individuals, and a follow-on investment from AMP New Ventures.

Brendan brings to Macrovue’s board more than 30 years of experience in the financial services industry, including being a co-founder and the Managing Director of the Select Asset Management Limited group, before its sale to ASX listed OneVue Holdings Limited in August 2014.

As the principal of Gatica Investments, Brendan invests in high-growth businesses in the finance and technology space as well as proving director and adviser services. Brendan will advise Macrovue on its go-to-market, sales and distribution strategies as the company moves from beta to a public launch in the third quarter.

Australian investors need more choice and access to international equities, not only when it comes to investment options but also in terms of the financial service providers available to them.

“Macrovue is an exciting, new company poised to establish itself in a space ripe for competition. I’m very pleased not only to be an early investor but also to be an active driver of the company’s growth,” said Brendan.

“We are in the process of building a world-class investment solution that will give Australian investors unprecedented access to global markets. Brendan with his experience building companies is an invaluable addition to our team and we are excited to learn from him and work alongside him,’’ said Sid Sahgal, the CEO of Macrovue.

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TFS provides specific regulatory services to Australian managed investment schemes, acting as a ‘responsible entity for hire’ to registered schemes and similar investment vehicles. The business will be integrated into Select Fund Services (Select FS) headed by Mr Alex Wise.
 
“We are pleased to announce the strategic acquisition of TFS,” said Select Asset Management Chief Executive Officer Brendan Foley.
 
“The addition of TFS highlights our intention to open up the inherent skills and experience that resides within our firm. Our vision is to leverage Select’s core principles of investor focus, investment rigour and original thinking to continue building an end-to-end, integrated investment management business,” Mr Foley said.
 
“The pivotal part of this model is Select Investment Partners (Select IP), our specialist asset management arm led by Dominic McCormick. Select IP recently celebrated its 10th year of successful investing in Australia,” he said.
 
Mr Foley said the TFS acquisition brings with it a number of high-profile financial services firms for which TFS acts as Responsible Entity (RE). The client list includes venerable brands Clime Investment Management, Man Group’s FRM and Yellow Brick Road.
 
Head of Select FS Alex Wise said funds services is a natural extension for Select given its reputation, client-focused principles and compliance standards.
 
“We take the business of investing other people’s money seriously, knowing that we operate in a highly complex regulatory environment. But we think differently about the challenges and opportunities facing investors today. Our track record clearly shows the benefits of responding with innovative product design and a robust due diligence process,” Mr Wise said.
 
“We’re ideally positioned to nurture and grow our business, providing third party asset managers a package of ‘RE for hire’ services and distribution services through Winston Capital Partners, our alliance partner. Such asset managers typically focus on managing the money and welcome the support of dedicated experienced professionals to provide support on governance and operational matters,” he said.
 
Mr Foley said TFS clients, under the guidance of new owner Select Funds Services, can expect continuing high quality service delivery and peace of mind knowing their fiduciary and regulatory needs are being well met.
 
The acquisition brings Select FS’ funds under administration to over $850m.

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