17 March 2015

JULIE MAY

Professional services and wealth management firm Koda Capital has grown its overall team to 19 staff, including board members, following its establishment by former National Australia Bank (NAB) executives Paul Heath and Steve Tucker in December 2014.

The group yesterday said two of Australia’s top not-for-profit and philanthropic advisers, David Knowles and Chris Wilson, had come across from NAB’s JBWere business and were the latest partners to join the firm. Koda Capital chief executive and former JBWere head Paul Heath told financialobserver while several Koda staff had previous ties to various businesses within NAB, team members had joined from a number of different groups, including ANZ Wealth, PricewaterhouseCoopers, Commonwealth Bank of Australia’s private wealth division, Citigroup, BNY Mellon and Centric Wealth.

Heath said Knowles and Wilson were leaders in their space and had attracted more than $1 billion in funds under management and advice over the past three years at JBWere.

“Philanthropic and non-profit advice is one of the core pillars of Koda’s independent, fee-for-service offering and we have started with the best in the field,” he said, pointing to Koda’s other core pillars being strategic financial advice, investment strategy creation and intergenerational wealth. Knowles, who has more than 25 years of experience in wealth management, including more than a decade at Perpetual, told financialobserver the not-for-profit and philanthropic space now had a lot more traction than 10 years ago.

He put that down to greater awareness and a bigger profile around giving, more media exposure and people re-evaluating wealth following the global financial crisis.

“Chris and I are passionate about providing advice to social capital investors in the philanthropic and non-profit sector and by joining Koda Capital, we will be able to provide this service in an independent environment where we can offer objective advice and work in partnership with clients,” he said in a statement.

Further, he said charities, government, corporates and individuals had struggled to solve social problems in isolation, and they needed to look at new ways of working together to achieve successful outcomes.

Meanwhile, Heath told financialobserver the business expected to name further adviser partnerships in the coming months and ideally it would like to have 40 advisers across Melbourne and Sydney over the next three years.

The publication reported at the end of January that Koda believed establishing a Melbourne presence at some stage would make sense, but it would grow the business in a methodical and organised way.

Koda Capital provides specialist advice to high net wealth families and executives of public and private companies, as well as not-for-profit organisations and philanthropists.

 

Read more at financialobserver.com.au/