SARAH THOMPSON | ANTHONY MACDONALD | JOYCE MOULLAKIS
Koda Capital has poached three of JBWere's key operatives in a move expected to turbo-charge the boutique wealth advisory firm's growth.
Street Talk can reveal Koda has lured JBWere executive director Frank Macindoe and investment adviser James Hawthorne to its Sydney office, while Brendan Jones, a former director at the retail broker, is expected to join Koda's Melbourne team.
It is understood the trio resigned on Wednesday. The appointments bring total partner numbers at the Paul Heath-run Koda Capital to 34, of which 25 are advisers.
It also comes as JBWere's future is up in the air as National Australia Bank undergoes a far-reaching review of its wealth business, which spans the funds management, superannuation and financial advice operations.
"Of course I'm attracted by Koda's independence, but equally it is about their partnership model, where the owners of the business are in daily contact with clients," Macindoe told Street Talk.
Macindoe, a former partner at law firm Blake Dawson, had been regarded as one of JBWere's biggest revenue writers.
Koda was founded by Heath and former MLC chief executive Steve Tucker in 2015.
Tucker said Koda would continue to grow partner numbers across the east coast this year. "We still have some way to go to achieve the scale we are looking for."
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