Bravura Solutions has completed its share acquisition of investment admin software developer Garradin from Powerlan, and announced the appointment of Garradin CEO Stephen Bowhill as head of product.
Bravura group CEO and managing director, Iain Dunstan, said 24 Garradin employees would join Bravura’s Sydney and Melbourne workforces. That includes Bowhill, who has been appointed head of product – portfolio management, with responsibility for the strategic direction and revenue for Bravura’s investment and portfolio management applications. A new hire is Hicham Mourad, as head of service delivery – portfolio management. Mourad joins Bravura from ING, where he spent seven years leading teams that supported large scale strategic projects across multiple business units for superannuation, unit trusts and life insurance. Dunstan said Garradin’s integrated unit pricing and fund accounting capabilities were complimentary to Bravura’s own.
The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
