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Granite Bay Private Wealth launches, redefining how private wealth is delivered in Australia

Thu, 15 Jan 2026 20:15:13 +0000

(L to R): Steve Moon, David Asplin, Jessica Brady, Matt Nicholls

A new adviser-led wealth firm has entered the Australian market with the launch of Granite Bay Private Wealth, positioning itself as a contemporary alternative to traditional wealth advisory models.

The business has been established by a partnership of senior investment advisers and experienced industry executives, serving high-net-worth individuals, multi-generational families and sophisticated private capital. Operating from Sydney and Brisbane, with plans to expand into Melbourne, Granite Bay is executing an ambitious growth strategy supported by a syndicate of prominent investors

Granite Bay’s founding team includes Managing Partner, Steve Moon, who brings more than two decades of private wealth experience across global institutions including Morgan Stanley, UBS and Macquarie.

Recognising changing expectations in the Australian wealth market, as high-net-worth investors increasingly prioritise transparency, contemporary infrastructure and institutional-grade investment capability, the founders of Granite Bay set out to bring together the scale and access of a global institution, delivered with the focus and care of a privately owned firm.

“The Australian wealth market is rapidly evolving. Understanding our client needs and what’s important to them was at the forefront of our mind in establishing this business,” said Moon. “We wanted to offer investors genuine choice beyond the large institutions. Both clients and advisers deserve something better, something built on experience, trust and a genuinely aligned model.”
David Asplin, joins Moon as Chief Executive Officer, bringing more than 30 years’ experience in funds management and operational leadership from QIC, Challenger and Colonial First State.
“Granite Bay has no outdated legacy systems, no inherited constraints, and makes no compromises. Everything, from our governance frameworks to our technology stack to the partnerships we’ve carefully selected, has been designed with a single intention: to deliver a premium, contemporary and secure client experience.”

Joining Moon and Asplin on the Granite Bay executive team are Matt Nicholls, Chief Operating Officer, and Jessica Brady, General Manager.

Nicholls brings more than 30 years of experience leading teams and driving operational excellence, transformation and growth across global markets, including senior leadership roles with Morgan Stanley and Macquarie. Brady has 20 years’ experience across wealth advisory and platforms, with senior roles at Macquarie, BT Financial Group and Colonial First State.

Granite Bay has appointed Damien Frawley as Founding Chair. A former CEO of QIC and Country Head of BlackRock Australia, Damien currently chairs Hostplus Superannuation and QTC Capital Markets, and serves on the boards of Mirvac and Elders.

“I chose to be involved with Granite Bay because it’s built on the principles that matter most in wealth management: strong governance, disciplined decision-making and a genuine commitment to doing things properly. This is a business that operates with the transparency and accountability that clients rightly expect,” Frawley said.

Granite Bay has appointed BlackRock, one of the world’s largest asset managers, as its Outsourced Chief Investment Officer (OCIO), giving Granite Bay clients and advisers access to BlackRock’s global capabilities and the multi-decade track record of its Multi-Asset Strategy and Solutions (MASS) team.

David Griffith, Head of Multi Asset Strategy Solutions, BlackRock Australasia, said “Granite Bay’s solutions-led model is a strong fit for our Outsourced Chief Investment Officer offering. The appointment showcases how we can deliver institutional-grade investment thinking to the private wealth market.”

Chantal Giles, Head of Wealth Australasia & APAC Strategic Clients at BlackRock, said “The Australian private wealth market is evolving at pace, with investors seeking greater accessibility, transparency, diversification, and institutional quality solutions. By appointing BlackRock as its OCIO, Granite Bay advisers will benefit from BlackRock’s multi-asset teams’ expertise to meet their clients growing demand all while bringing institutional capabilities within easier reach for their clients.”

Alongside the OCIO appointment, Granite Bay has formed a highly-credentialled Investment Committee independently chaired by Debbie Alliston, former Head of Investments at BT Investment Management and former CIO for AMP Capital’s $80bn multi-asset business, and supported by external consultants David Griffith, Head of Multi Asset Strategy Solutions, BlackRock Australasia and John Lockton, Head of Investment Strategy, MST Financial.

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QIC appoints Managing Director of global real estate

Mon, 04 Feb 2019 20:35:11 +0000

Brisbane-based global diversified alternative investment firm QIC today announced the appointment of Michael O’Brien as the new Managing Director, Global Real Estate (QIC GRE).

Mr O’Brien’s appointment fills the vacancy created by the retirement of founding QIC GRE team member and long-term Managing Director Steve Leigh, announced in 2018.

Announcing the appointment, QIC Chief Executive Officer Damien Frawley said: “Following a thorough executive search as part of the planned leadership transition in Global Real Estate (GRE), I am pleased to announce Michael O’Brien as the new Managing Director of GRE. Michael has a distinguished, 30-year real estate career and an impressive record of accomplishment in shopping centre management and development, real estate funds management and finance. His leadership qualities and market acumen will ensure that our real estate platform continues to deliver strong investment returns, building on the outstanding track record of Steve Leigh and QIC GRE.”
Mr O’Brien is currently Chief Financial Officer and former Chief Investment Officer of Vicinity Centres, Australia’s second largest listed manager of retail property, with responsibility for the investment strategy for an integrated asset management platform with some $26 billion in retail assets under management across 62 shopping centres.

Mr O’Brien has held senior investment and operational roles with Vicinity Centres, GPT Group and Lend Lease Corporation. While at Vicinity Centres, he has been responsible for the organisation’s finance, investment management and capital transactions, as well as its wholesale funds and strategic partnerships business. In his most recent role, he led the investment strategy for a retail portfolio with a significant pipeline of mixed-use development, similar to that of QIC.

Commenting on his appointment, Mr O’Brien said: “I am delighted to join QIC and assume responsibility for QIC’s global real estate platform. It will be a privilege to lead a world-class team of real estate specialists with significant operational and investment management expertise which has delivered strong investment returns for QIC’s clients. QIC’s heritage, track record, and well-deserved reputation among clients and counterparties, provides a strong foundation for future performance through both cyclical and systemic market changes.”

In this key leadership position at QIC, Mr O’Brien will report to QIC’s CEO Damien Frawley, serve on the QIC Executive Committee, and lead a team of more than 500 people globally managing 50 assets. QIC’s real estate portfolio is currently valued at approximately A$22.4 billion (US$15.7 billion) as at 31 December 2018 and is invested on behalf of institutional clients via cross pooled and segregated mandates.

David Asplin, QIC GRE Chief Operating Officer, has been appointed Acting Managing Director of QIC GRE during the leadership transition.

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QIC enters binding agreement to acquire controlling interest in North Australian Pastoral Company

Sun, 08 May 2016 21:40:28 +0000

Damien Frawley

Leading Australian investment manager, QIC has announced it has signed an agreement(s) to acquire an 80 per cent interest in the North Australian Pastoral Company (NAP).

NAP is one of Australia’s oldest and largest agricultural enterprises covering 5.8 million hectares across Queensland and the Northern Territory and approximately 178,000 head of cattle.

At the conclusion of the transaction, NAP’s largest shareholder, the Foster family will retain an interest in NAP of approximately 20 per cent. Funds advised by QIC including Australian superannuation capital and the UK-based Pension Protection Fund (PPF) will hold approximately 80 per cent having acquired the remainder of the Foster family’s holding and the 34 per cent of NAP currently owned by UK-listed MP Evans.

An offer will be made to other minority shareholders to acquire their shares as part of the transaction, and offer them the opportunity, should they wish, to retain an interest in NAP.

NAP is a vertically integrated beef business with a herd managed across 13 well-located properties in Queensland and the Northern Territory as well as the Wainui feedlot on the Darling Downs.

It is an industry leader in advanced composite breeding programs and has developed two of its own highly regarded composite breeds.

Commenting on the transaction, Damien Frawley, QIC’s CEO said: “QIC is very proud to lead this investment in Australian agriculture and to be investing Australian superannuation assets into our beef industry. This landmark deal was made possible by our unique government heritage, and it captures the benefit of our networks of institutional investors and connections to Asian corporate relationships. It’s a natural evolution for our 25 year-old investment platform.”

Marcus Simpson, head of QIC’s NAP transaction team, said, “We believe the Australian food sector is entering a period of exciting development.

Australia enjoys an enviable reputation for producing clean, healthy food. QIC has a track record of making long-term investments in companies and their people. Our vision for NAP is to see it prosper by capitalising on strong beef demand driven by growth in Asia which is expected to account for 47 per cent of global beef demand by 2024.”

Mr Simpson said QIC was delighted the Foster family would retain a 20 per cent shareholding in the company.

A Foster family representative said: “This is an excellent outcome for the Company. QIC is a logical owner of NAP bringing with it exciting prospects for the future growth of the business. We feel assured that NAP has a bright future, as evidenced by the family’s ongoing investment.”

Executive Chair of NAP Nigel Alexander said: “The Foster family and NAP’s management have built an outstanding beef enterprise over many generations, and are justifiably proud of what has been achieved. Under QIC’s stewardship NAP is entering an exciting new phase of its development. I’m very confident QIC has the vision and expertise to build the company into the future.”

Consistent with his long term intentions, Mr Alexander also announced his intention to step down from his role after 20 years with NAP, but has agreed to remain in the role until a successor commences.

QIC’s representative on the NAP Board Phil Cummins thanked Mr Alexander for his ongoing contribution to NAP and Australian agriculture and said the company had a strong legacy to build on.

Mr Cummins said: “NAP has exceptional properties, cattle and management and we believe cattle men and women are the best people to run cattle properties. QIC also has significant business development skills to bring to the table. Together we will be a great team. NAP is already one of Australia’s leading cattle businesses and with an ongoing commitment to operational excellence, we believe NAP has the potential to become a significant regional food champion.”

“We are also strongly committed to NAP’s high standards of workplace health and safety, animal welfare and sustainable land management practices,” he said.

QIC were advised by Deloitte Corporate Finance (lead financial adviser), PricewaterhouseCoopers (accounting and tax) and McCullough Robertson (legal).

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