Stephen has more than 30 years of senior executive experience in the financial services industry with a particular focus on the investment management, capital markets and government sectors. Before transitioning to a career as a non-executive director, Stephen served as CEO of NSW Treasury Corporation (NSW TCorp) for a decade.

Under his stewardship TCorp became one of Australia’s top 10 asset managers, with about $70 billion in funds under management on behalf of NSW government authorities. Stephen also led the recent amalgamation of TCorp’s funds management activities with State Super and SRWS (Safety Return to Work and Support).

OneVue Chair, Ms Gail Pemberton, said “The next few months are poised to be a very exciting period for OneVue and we wanted to enhance the mix of skills on the Board to support the business through this next phase of growth. In the last 12 months OneVue has cemented its position as #1 in the provision of outsourced unit registry services to the custody and investment management sectors. Stephen’s deep domain knowledge of custody and investment management, as well as his broad financial services experience, will bring greater depth to the OneVue Board and the Investment Committee which he will also be joining.”

Prior to TCorp, Stephen was Head of Treasury and Capital Markets at Union Bank of Switzerland (UBS) Australia and he also held senior treasury roles for ANZ, National Mutual Royal Bank, and Australia Bank.

Stephen is also a Director of the Sydney Financial Forum, Primary Ethics Future Trust (PEFT) and is an Advisory Board member of the Australian Office of Financial Management (AOFM).

Stephen has a Bachelor of Arts (majoring in Economics and Applied Mathematics) from the University of Sydney, completed the General Manager Program at Harvard Business School, and is a Fellow of the Australian Institute of Company Directors.

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OneVue chief executive and continuing OneVue board member Connie Mckeage said following the business’ proposal last year to list on the Australian Securities Exchange in 2014, it was necessary the board undergo a renewal process.

“It’s important in the lead up to an IPO and going forward that we retain links to our history and at the same time have the right skills to take OneVue to its next stage of evolution,” Mckeage said.

Gail Pemberton will continue in her role as chair, a position she has held since 2007.

“Gail’s career has spanned the globe, with current roles including chair of Onthehouse and SIRCA Technology, and non-executive director of Paypal Australia, Baycorp and QIC. In Gail’s executive career she also achieved major milestones at BNP Paribas and Macquarie Bank,” Mckeage said.

New board member Garry Wayling brings to OneVue more than 30 years of experience in a professional services career, primarily in external audit and advisory roles with Arthur Andersen and Ernst and Young.

“Garry’s audit background is complemented by current experience in directorships and managerial roles within an ASX listed environment,” Mckeage said.

“Regarded as a specialist in private emerging growth companies and private equity backed businesses, Garry’s experience has included business planning, IPOs, due diligence and Sarbanes Oxley reviews

“In the Strategic Growth Markets Group of Ernst and Young he was the Oceania Markets IPO leader.”

Also new to the OneVue board is Greta Thomas who has expertise in strategy, marketing, and creating and building businesses internationally. She was named one of the leading 50 current and emerging female leaders by Advance in 2011.

“Greta has significant experience consulting to leading financial services organisations on new ventures and business models,” Mckeage said.

“In addition she has worked with and helped build a number of other businesses with high growth potential, including eBay and Bono’s (PRODUCT) RED. She also worked for global consulting firm McKinsey and Company.

“Our third board member to be appointed is Karen Gibson who joins post our purchase of MAP Funds Management in which she remains a director of the MAP trustee board.

“Karen has worked with boards of large and small, retail and industry, government and non-government organisations.

“Highlights of her career include facilitating successful merger outcomes including that of City Super with LGsuper, and Suncorp and Metway superannuation funds.

“With more than twenty years of experience in operations, investment strategy, and change and risk management, Karen has held a variety of executive roles, including chief executive of City Super and Energy Super.

Mckeage said subsequent to these new appointments, Michael Cole, Nigel Stokes and Peter Kennedy will step down from the OneVue board to focus on other commitments.

Cole, who remains a major shareholder in OneVue, will oversee the amalgamation of NSW State Super, the NSW Treasury Corporation and the Safety, Return to Work and Support Division.

Cole felt due to the time constraints and to avoid any potential conflicts of interest that may arise from his new role, that it was no longer appropriate he serve on the OneVue board.

Stokes in the meantime will continue to work with OneVue in a consultancy capacity.

Kennedy will focus his time on Kennedy Investments, which offers high value or difficult to access investment opportunities to individual investors, companies, trusts and self managed super funds.

“Michael, Nigel and Peter have a done a wonderful job in helping us to get to where we are today,” Mckeage said.

“We feel very fortunate to have our new board members join us and we are confident that our combined skillsets and experiences will give us maximum leverage to take OneVue to IPO and beyond.”

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Connie McKeage

Investment platform and fund services provider OneVue has announced the completion of the first $6.75 million of an $8 million capital raising program.

OneVue chief executive Connie Mckeage said the aim of the capital raising was to fund the business’ expansion post the acquisition of Computershare Fund Services and to create a stronger balance sheet for the group.

“The major investors in the $6.75 million placement are Perpetual Limited and Thorney Investments,” Mckeage said.

“The remaining $1.25 million has been set aside for existing shareholders and OneVue staff, including those new OneVue employees that joined the business as part of the Computershare Fund Services transaction in September.

“We are fortunate to have enormous support from both staff and existing shareholders therefore the balance has already been spoken for.”

Mckeage said the business had interest that far exceeded OneVue’s capital raising target of $8 million.

“OneVue is an SMSF sector participant,” Mckeage said.

“We access the SMSF market via key distribution avenues being intermediaries such as planners and accountants, and third party brands that market direct to consumer. The soon to be launched ASX Managed Funds Service, also known as AQUA II, will provide a third avenue.

“The high calibre of new investors such as Perpetual Limited and Thorney Investments highlights that our belief in OneVue being a market transformational business is increasingly gaining momentum across the financial services industry.

“The key to any business is people. People drive financial outcomes not the other way around.

“We were profitable last year and don’t intend to let go of that bottom line.”

OneVue chair Gail Pemberton said the $6.75 million placement which required shareholder approval received unanimous support.

“The capital raising allows us to focus on further expansion and innovation, and even greater outcomes for existing and prospective clients and partners,” she said.

Currently OneVue has more than 200 advisers servicing clients through its investment platform packages and the business administers over $130 billion through its funds services business that caters to 25 of Australia’s leading financial services organisations.

Mckeage added that OneVue was moving towards an ASX listing in the second quarter of 2014 and that no further capital raising would be required before the initial public offering.

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