One of the architects of DST International’s domination of the institutional investment systems market has left the company after 16 years.
Nick Frolich, who with his former boss Ian Mathieson formed a long-term partnership to expand the use of the HiPortfolio system by Australian fund managers, has decided to take a long holiday and consider new opportunities in the industry.
Mathieson, the former managing director, has been on extended sick leave.
Frolich said that with DST continuing to maintain about an 85 per cent share of the available institutional market and with a lot of the future growth for the company likely to come from the Blue Door wealth management system, he felt it was time to find a new challenge.
Underscoring DST’s position at the annual ACSA/Investment Magazine administration conference last week, the head of operations at QSuper, Kyle Ringrose, who was asked to provide an historical perspective of custody in Australia, said: “Who would have thought 25 years ago that looking ahead we’d all still be using HiPortfolio now.”
Frolich was most recently director of sales and marketing at DST. Before joining the company in 1995 he was with Macquarie Bank.