Bennelong Wealth Partners, Bennelong Group’s wealth management business, today announced the appointment of Dr. George Nassios to the key role of Chief Investment Officer.

Dr. Nassios comes to Bennelong Wealth Partners from his role as Chief Investment Officer at leading international wealth management and investment bank Deutsche Bank AG, where he led the investment solution for high net worth individuals and families. This solution included responsibility for equity and fixed income model portfolios and strategic advice across equities, fixed income and credit markets, FX and structured products.

Prior to joining Deutsche Bank in 2011, Dr. Nassios was the CIO and held senior investment management positions at one of Australia’s leading multifamily offices as well as at National Australia Bank and BNP Paribas.

As a key member of the executive management team and reporting directly to the Chief Executive Officer, Fiona Rowland, Dr. Nassios will be responsible for leading and managing Bennelong Wealth Partner’s investment activities. These include capital market activity; developing model portfolios; providing investment commentary and tools; and building a flexible approved product list for the Bennelong Wealth Partners’ boutiques.

Bennelong Wealth Partners was created in 2013 in response to growing demand from high net worth individuals, families and not-for-profits for bespoke wealth management services. It offers a uniquely tailored and comprehensive suite of services tailored to the needs of high net worth clients. These include a dedicated CIO function, wealth management, philanthropy and family governance, as well as more essential services such as compliance, finance, administration and marketing. The target segment for the business is wealth managers and advisers currently servicing clients with up to $20 million in investable assets.

Speaking about Dr. Nassios’ appointment, CEO of Bennelong Wealth Partners, Fiona Rowland, said that the Bennelong Group had been focused on identifying an institutional-grade CIO with deep financial markets experience who was also able to provide the high quality insights and communication that wealth advisers rely on in terms of macro-economic trends and global markets.

“We are very pleased to have been able to attract a CIO with George’s market experience,” she said. “Not only does he have extensive financial markets experience, in particular in equities and fixed income, but he has deep experience and understanding of capital markets activity. He also brings with him an actuarial background and key insights gleaned from working with high and ultra-high net worth individuals, including a leading multi-generational multi-family office.”

Ms Rowland said that she and Dr. Nassios will work closely together to build the Bennelong Wealth Partners business into a solution driven equity ownership model for advisers wanting to build their own wealth management boutique.

“Our equity model is particularly attractive to wealth advisers, because we not only provide the licensing and shared services, but also dedicated bespoke services. The key shared services attraction is our Chief Investment Office led by Dr. George Nassios in addition to dedicated access to philanthropic, not for profit and family governance services allowing wealth advisers to form their own businesses servicing the needs of sophisticated clients– backed by Bennelong,” she explained.

Speaking about his appointment, Dr. Nassios said that he was excited about joining the Bennelong Group.

“Bennelong Wealth Partner’s boutique model represents a new chapter in wealth management. I am looking forward to implementing an investment framework that addresses the needs of high net worth clients and their sophisticated wealth advisers,” he said.

“I look forward to drawing upon the global experience I gained at Deutsche Bank combined with my philanthropic family office experience to work with wealth advisers to bridge the gap between local and international best practice investment strategies for the Bennelong Wealth Partners’ boutiques and their clients.”

Ms Rowland concluded by saying that Dr. Nassios’ decision to move to Bennelong Wealth Partners is very much a vote of confidence in the Bennelong Group’s high net worth wealth management business model

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Bennelong Group will create a national wealth management business with services and products that are specifically tailored to the needs of high net worth and ultra-high net worth clients and will pursue a growth strategy through acquisition and client adviser recruitment.

The wealth management and advisory strategy will be developed and managed independently of the Group’s other operating businesses.

Head of Wealth Management and Advisory appointed

Fiona Rowland will join the Melbourne-based Bennelong Group later this month to head up the new wealth management and advisory strategy and also to oversee the activities of the Bennelong Group’s philanthropic arm, the Bennelong Foundation.

Ms Rowland’s appointment forms a pivotal part of the plan to enter the wealth management industry and build on the Group’s successful presence in the funds management and private equity markets both in Australia and internationally.

Ms Rowland joins the Group, following 12 years in senior executive roles with ANZ, UBS and JBWere after working as a corporate and funds management lawyer at Minter Ellison. Previous roles include Head of Charitable Foundations – ANZ Trustees and several roles at UBS including Head of Philanthropic & Not for Profit Services, and Head of Wealth Planning and Head of Business Management, Investment Product and Strategy and Head of Product at JBWere.

Over Ms Rowland’s executive career she has focussed on the high net worth and ultra-high net worth segment holding positions across all aspects of the client lifecycle and wealth management service offering with key client relationship management, business development and product and strategy roles.  Through these roles, Fiona has developed significant expertise, and client relationships, in understanding and servicing the needs of not for profit organisations and family groups in relation to their wealth management needs, including family governance and philanthropy.

Chris Cunningham, Chief Executive Officer of the Bennelong Group, said: “We are thrilled to have secured someone of Fiona’s calibre, with the distinctive combination of expertise in both wealth management and philanthropy.  Her experience will be invaluable as we embark on a new wealth management and advisory strategy targeting private clients, family groups and not for profit organisations”.

Acquisition of wealth management and advice firm

Bennelong Group has acquired a controlling interest in Melbourne-based wealth management and advisory firm Carnbrea & Co Limited (Carnbrea). The acquisition is in line with the Group’s strategy to expand into wealth management and advice for private clients and not for profit organisations and represents the first in an expected series of acquisitions and wealth adviser hires.

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