The head of operations for BNP Paribas Securities Services has resigned to run a Melbourne-based wealth manager catering to business owners.
After only four months helming operations for BNP Paribas SS, Tony Winwood will return to his hometown of Melbourne to run the investment management division of Fordham Wealth Advisors, which currently has $600 million under management. Fordham offers its ‘business owner’ clientele a public offer super fund and wholesale investment funds under the Garnet brand. It runs the domestic equity and fixed interest components of these funds itself, and indexes global assets through Vanguard Investments – an attraction to Winwood, who ran operations there before he briefly became country head of JPMorgan’s custody business. BNP Paribas SS head of sales and relationship management, Ken Shaw, said a replacement for Winwood had been identified within the European operations, and was currently being finalised. Winwood is the latest in a quick succession of operational heads for BNP Paribas SS, with Gordon Mackellar’s replacement, Darren Booth, lasting only six months before Winwood came on board.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
