ASX:BFG

A leading Australian financial services business.

BELL FINANCIAL GROUP (ASX: BFG)

Bell Financial Group Limited (Bell Financial Group) is an Australian-based provider of stockbroking (full service and online), investment and financial advisory services to private, institutional and corporate clients.

Originally founded by Colin Bell in 1970 as a commodities trading business, through organic growth and successful acquisitions we have grown to become one of the largest Australian-based stockbroking, investment and financial advisory firms. The Group has over 680 employees including over 325 advisers, operates across 15 offices in Australia and has offices in New York, London, Hong Kong and Kuala Lumpur.

Across our companies Bell Potter Securities Ltd, Bell Potter Capital Ltd and Third Party Platform Pty Ltd, we service over 600,000 clients with funds under advice exceeding $58.4 billion. Our collective strength lies in providing focused investment solutions for all our clients – corporations, institutions, superannuation funds and individuals.

Publicly listed in 2007, we have demonstrated consistent revenue growth and retained a solid balance sheet with no core operating debt. The Group is led by an experienced, stable Board and management team which has a substantial stake in the Group.

680

EMPLOYEES

325

ADVISORS

19

OFFICES GLOBALLY

58.4b

FUNDS UNDER ADVICE

A LONG HISTORY OF INNOVATION, GROWTH AND PROFITABILITY

Timeline

OUR BUSINESSES

We are made up of a number of leading brands that provide retail broking, institutional broking, intermediary broking, online broking, equity capital markets, research, futures and foreign exchange, cash management, margin lending and portfolio administration.

BELL POTTER SECURITIES LTD

Bell Potter Securities is a leading Australian provider of full service stockbroking, investment advisory and financial services. The company consists of businesses Bell Potter Securities, Bell Commodities and Bell FX. It operates across 13 offices in Australia, as well as offices in New York, London and Hong Kong and has over 600 employees.

Bell Potter Securities provides equities broking, capital raising and financial services to the Australian corporate, institutional, wholesale and private client markets. Bell Potter Securities has over 325 financial advisers who service more than 500,000 retail, wholesale and institutional accounts with funds under advice exceeding $35 billion.

Bell Commodities provides advice and execution services for wholesale and retail clients trading global futures, options and cash currency markets for their hedging, trading and investment requirements.

Bell FX provides foreign exchange execution services for corporate and individual customers which includes spot and forward foreign exchange, foreign currency options, tailored forwards, research, foreign currency accounts and fee-free international remittances.

Revenue is generated from: equities and exchange traded options brokerage; recurring revenue from platforms, products and services; and fee income from equity capital markets transactions.

BUSINESSES

BELL POTTER CAPITAL LTD

Bell Potter Capital is a margin lending and cash management business that was established in 2006.

The only non-bank margin lender in the market, the Bell Potter Capital team conservatively manages an approximately $550 million loan book and $300 million cash book. Bell Potter Capital has a 30% average LVR across the loan book and there have been no bad debts in the company’s history.

Bell Potter Capital is primarily focused on providing high quality, well-managed products to a broad range of investors. Its margin loan and cash products are offered through both the Bell Potter Securities and Third Party Platform client networks.

Bell Potter Capital recently acquired two structured loan products (Equity Lever and Geared Equity Investments), growing the loan book, increasing direct sales access to financial advisers and providing new products for stockbroking clients.

Bell Potter Capital principally generates revenue from net interest income and recurring fee income. Net annual revenue has grown by 23.3% to $12.9 million.

BUSINESSES

THIRD PARTY PLATFORM LTD

Third Party Platform Pty Ltd (Third Party Platform) operates through its brand names, Bell Direct, Desktop Broker and Bell Potter Online, plus its white label partners Macquarie Online and HSBC Online to provide online retail broking, online intermediary broking and white label online broking services to institutional clients.

Third Party Platform is the only fully integrated open architecture platform in Australia and utilises proprietary new generation technology developed by an experienced management team. Third Party Platform operates from three offices located in Sydney, Perth and Kuala Lumpur, and has over 85 employees. Third Party Platform has $22 million in CHESS sponsored holdings and 176,000 client accounts.

Over the past five years, Third Party Platform has demonstrated consistent growth in revenue, sponsored holdings and client account revenue. Annual revenue has grown to $17.9 million.

Bell Financial Group made an initial investment in Third Party Platform of 25% in 2007 and completed its acquisition in 2018.

BUSINESSES

OUR TEAM

Colin Bell

Colin Bell

Director

Team Member

Alastair Provan

Executive Chairman

Team Member

Craig Coleman

Independent Director

Graham Cubbin

Graham Cubbin

Independent Director

Team Member

Brian Wilson AO

Independent Director

Team Member

Christine Feldmanis

Non-Executive Director

Team Member

Andrew Bell

Director

Team Member

Lewis Bell

Head of Compliance of Bell Potter Securities Ltd

Team Member

Arnie Selvarajah

Chief Executive Officer of Third Party Platform Pty Ltd

Team Member

Dean Surkitt

Managing Director of Retail of Bell Potter Securities Ltd

Team Member

Dean Davenport

Group Chief Operating Officer & Chief Financial Officer

Team Member

Rowan Fell

Chief Executive Officer of Bell Potter Capital Ltd

Team Member

James Unger

Head of Corporate Finance of Bell Potter Securities Ltd

Team Member

Geoff Louw

Co-Head of Futures & FX of Bell Commodities and Bell FX

Team Member

Brendan Goff

Group Head of Compliance

Team Member

James Gordon

Head of Australian Institutional Broking of Bell Potter Securities Ltd

Team Member

Cindy-Jane Lee

Group General Counsel and Company Secretary

Team Member

Peter Quinton

Head of Research Services of Bell Potter Securities Ltd

Team Member

TS Lim

Head of Research of Bell Potter Securities Ltd

Team Member

Tim Maxwell

Co-Head of Futures & FX of Bell Commodities and Bell FX

Team Member

Grant Brasher

Head of Distribution of Bell Potter Capital Ltd

Team Member

Lee Muco

Chief Operating Officer of Third Party Platform Pty Ltd

Team Member

Tim Sparks

Head of Distribution, Media and Marketing of Third Party Platform Pty Ltd

Team Member

Jessica Amir

Market Analyst and Media Presenter of Third Party Platform Pty Ltd

STRATEGY

We believe a measured growth strategy and commitment to technology investment differentiates us and provides a distinct competitive advantage.

Alastair Provan, Executive Chairman

NEWS

ASX Announcements
May 4, 2020

Third Party Clearing Update

We are pleased to advise that Third Party Platform Pty Ltd (TPP) (a wholly owned subsidiary of Bell Financial Group Ltd) has been admitted as an ASX Clear Participant (General)…
ASX AnnouncementsResults and Reporting
April 23, 2020

2020 AGM Results

Please find attached a copy of Bell Financial Group Limited’s 2020 AGM Results.   View full announcement >
ASX AnnouncementsResults and Reporting
April 23, 2020

2020 AGM – Executive Chairman’s Presentation

Please find attached a copy of Bell Financial Group Limited’s 2020 AGM - Executive Chairman's Presentation.   View full announcement >
ASX AnnouncementsResults and Reporting
April 23, 2020

2020 AGM Results

Please find attached a copy of Bell Financial Group Limited’s 2020 AGM Results.   View full announcement >
ASX AnnouncementsResults and Reporting
April 23, 2020

2020 AGM – Executive Chairman’s Presentation

Please find attached a copy of Bell Financial Group Limited’s 2020 AGM - Executive Chairman's Presentation.   View full announcement >
Results and Reporting
February 21, 2020

Annual Report 2019

View 2019 Annual Report >2019 was another successful year for Bell Financial Group. Our various revenue streams grew strongly, our Funds under Advice (FUA) are at record levels and our…

SEE OLDER ANNOUNCEMENTS

2018

20 November 2018Resignation of Brenda Shanahan from BFG Board
24 October 2018 BFG - Presentation with Market Update
10 August 2018Dividend Distribution - BFG
10 August 2018BFG announces first half profit before tax $14.2m
10 August 2018BFG half year results announcements
10 July 2018BFG expects first half profit to be up approximately 65%
5 July 2018BFG completes acquisition of 100% of Third Party Platform
4 July 2018Change of Director's Interest Notice
4 July 2018Change of Directors Interest Notice
4 July 2018Change of Director's Interest Notice
4 July 2018Change of Director's Interest Notice
4 July 2018Change of Director's Interest Notice
4 July 2018Change of Director's Interest Notice
3 July 2018Change in substantial holding
3 July 2018Appendix 3B
26 June 2018Entitlement Offer Successful Close & Shortfall notification
12 June 2018BFG Entitlement Offer - Despatch of Offer Booklet completed
4 June 2018BFG Entitlement Offer - Letter to ineligible shareholders
1 June 2018BFG Entitlement Offer - Letter to eligible shareholders
1 June 2018BFG Appendix 3B
1 June 2018BFG Cleansing Notice
1 June 2018BFG Renounceable Entitlement Offer Booklet
1 June 2018BFG Renounceable Entitlement Offer
30 May 20182018 BFG AGM Results
30 May 20182018 AGM - Managing Director's Presentation
30 Apr 2018BFG seeks approval to increase ownership in TPP to 100%
30 Apr 2018Notice of Annual General Meeting/Proxy Form
30 Apr 2018Change in substantial holding
21 Feb 2018Bell Financial Group reports strong full year results, NPAT up 26%
21 Feb 2018Dividend Distribution - BFG
21 Feb 2018BFG 2017 Corporate Governance Statement and Appendix 4G
21 Feb 2018BFG Annual Report 2017 and Appendix 4E

2019 FINANCIAL HIGHLIGHTS

REVENUE

$254.5m

Increased by 15.7%

NET PROFIT AFTER TAX

$32.4m

Increased by 33.2%

FUNDS UNDER ADVICE

$58.4b

Increased by 25%

EARNINGS PER SHARE

10.2 cents

Increased by 21.4%

FULL YEAR DIVIDEND

8.0 cents

9.6% Gross dividend yield

Annual Report

2019201820172016

PERFORMANCE (ASX:BFG)

FINANCIAL CALENDAR

DIVIDENDS

CORPORATE GOVERNANCE

CORPORATE GOVERNANCE STATEMENT

APPENDIX 4G

BOARD CHARTER
CODE OF CONDUCT
DISCLOSURE AND COMMUNICATION POLICY AND GUIDELINES
DIVERSITY POLICY
GROUP RISK AND AUDIT COMMITTEE CHARTER
DESCRIPTION OF RISK MANAGEMENT POLICY AND FRAMEWORK
TRADING POLICY
WHISTLEBLOWER POLICY

CONTACT

CONTACT DETAILS

REGISTERED ADDRESS

Bell Financial Group Ltd
Level 29, 101 Collins Street
Melbourne VIC 3000

POSTAL ADDRESS

Bell Financial Group Ltd
GPO Box 4718
Melbourne VIC 3001

PHONE

Australia 1300 023 557
International +61 3 9256 8700

FAX

+61 3 9256 8787

EMAIL

COMPANY SECRETARY

Cindy-Jane Lee
General Counsel & Company Secretary
Level 29, 101 Collins Street
Melbourne VIC 3000

SHARE REGISTRY

Computershare Investor
Services Pty Ltd
Yarra Falls
452 Johnston Street
Abbotsford VIC 3067
Toll Free: 1300 850 505 (Aus)
Tel: +61 (0)3 9415 4000 (Overseas)
www.computershare.com

SEND US A MESSAGE

  • This field is for validation purposes and should be left unchanged.

* Required Fields

Team Member

Colin Bell

Director

Mr Colin Bell was the Executive Chairman of Bell Financial until 24 January 2019 and thereafter he continued on the Board as an Executive Director. On 15 August 2019, Mr Bell retired from the Board of Bell Financial however he remains involved with the Group on a day-to-day basis. Mr Bell founded Bell Commodities in 1970 after working with the International Bank for Reconstruction and Development in Washington DC, USA.
Team Member

Alastair Provan

Executive Chairman

Mr Alastair Provan is the Executive Chairman of Bell Financial and he is responsible for the day-to-day management of all businesses within the Group. He was appointed as Executive Chairman on 15 August 2019. Mr Provan was the Acting Chairman and Managing Director from 24 January 2019 to 15 August 2019. Mr Provan joined Bell Commodities in 1983 and held a number of dealing and management roles prior to becoming Managing Director in 1989.
Team Member

Andrew Bell

Director

Andrew Bell joined Bell Potter alongside his brother Colin Bell in 1978 and helped build the Group. Throughout this time, Andrew has and continues to be actively involved in developing the sales and distribution activities of the business and servicing retail and corporate clients of the firm. Andrew is a Director of Bell Potter Securities Ltd and Bell Potter Capital Ltd. He holds a Bachelor of Commerce and Masters of Business Administration from the University of Melbourne.
Team Member

Peter Quinton

Head of Research Services - Bell Potter Securities Ltd

Peter Quinton is Head of Research Services and joined Bell Potter Securities in 2000. He has over 40 years of experience in stockbroking, encompassing a number of senior management positons centered on writing and marketing reports on investment strategy and asset allocation. Previously, Peter was Head of Research at Colonial Stockbroking and Director/Chief Investment Strategist at ABN AMRO.
Team Member

Lewis Bell

Head of Compliance - Bell Potter Securities Ltd

Lewis Bell is Head of Compliance at Bell Potter Securities. He joined Bell Financial Group in 1980 after working in management positions with Australian industrial companies, Kiwi International Limited and Phillip Morris Limited. Lewis is a Director of Bell Potter Securities Ltd and Bell Potter Capital Ltd. He graduated from the University of Melbourne with a Bachelor of Laws and Masters of Business.
Team Member

Dean Surkitt

Managing Director of Retail - Bell Potter Securities Ltd

Dean Surkitt is Managing Director of Retail at Bell Potter Securities Ltd, with full responsibility for the retail broking operations. Dean joined Bell Potter Securities in 2010 and has a long history in the broking industry, having previously been a director at Prudential Securities Australia, and Managing Director of Citigroup Smith Barney in Australia. He has predominantly worked in the retail marketplace, running and managing large scale retail operations at Prudential, Citigroup and with Bell Potter Securities. Dean is a Director of Bell Potter Securities Ltd.
Team Member

James Unger

Head of Corporate Finance - Bell Potter Securities Ltd

James Unger joined Bell Potter Securities as Head of Corporate Finance following Bell Financial Group’s acquisition of Southern Cross Equities in 2008. At Southern Cross, James was a partner and Head of Corporate, with a focus on building the firm’s institutional corporate business. Previously, he was a Director of Equity Sales and Trading at Citigroup for 11 years and serviced clients across London and Asia. He also worked at NatWest Markets in London for five years in an institutional sales role. James is a Director of Bell Potter Securities Ltd. He holds a Bachelor of Commerce from the University of Western Australia.
Team Member

Dean Davenport

Group Chief Operating Officer and Chief Financial Officer

Dean Davenport is the Chief Financial Officer and Chief Operating Officer for the Group and has held these positions for over 20 years. Dean is a qualified Chartered Accountant with over 30 years’ financial services experience. He previously worked at KPMG Melbourne for five years. Dean is a Director of Bell Potter Securities Ltd and Bell Potter Capital Ltd. He holds a Bachelor of Business (Accounting) from Swinburne University.
Team Member

Brendan Goff

Group Head of Compliance

Brendan Goff is Head of Compliance for the Bell Financial Group. Brendan joined the Group in 2015 after working in management positions at UBS Wealth Management, SFG Australia Limited, Westpac and ING Australia. Brendan graduated from Macquarie University with a Bachelor of Economics, holds a Diploma of Financial Planning from RMIT University and a Diploma of Teaching (Mathematics) from the University of Sydney.
Team Member

James Gordon

Head of Australian Institutional Broking - Bell Potter Securities Ltd

James Gordon is Head of Australian Institutional Broking at Bell Potter Securities. James joined Bell Potter Securities in 2011 and has worked in the stockbroking industry for over 20 years in Australia, UK and Italy, including stints with Royal Bank of Scotland and BNP Paribas. James has extensive experience in the distribution of corporate deals specialising in stocks outside the ASX50. James and his team have a market leading position in institutional distribution and access to Tier 1 Australian institutions.
Team Member

TS Lim

Head of Research - Bell Potter Securities Ltd

TS Lim is Head of Research at Bell Potter Securities. TS joined Bell Potter Securities in 2005 and has over 33 years’ experience in financial services including treasury functions in the NZ forestry sector as well as strategy development and M&A in the Commonwealth Bank of Australia.
Team Member

Arnie Selvarajah

Chief Executive Officer of Third Party Platform Pty Ltd

Arnie Selvarajah is the Chief Executive Officer of Third Party Platform Pty Ltd including its associated businesses Bell Direct, Desktop Broker and Bell Potter Online. Arnie has been at Third Party Platform for over 10 years and has more than 25 years' experience in financial services. In his time at Third Party Platform, he has driven growth through a focus on technology and customer service. Arnie is a Director of Third Party Platform Pty Ltd and Bell Potter Securities Ltd. He holds a Bachelor of Commerce and Masters of Business Administration from the University of New South Wales.
Team Member

Jessica Amir

Market Analyst and Media Presenter of Third Party Platform Pty Ltd

Jessica Amir is a Market Analyst and Media Presenter for Third Party Platform Pty Ltd including its associated businesses Bell Direct, Desktop Broker and Bell Potter Online. Jessica is an experienced presenter and Australian equities strategist with over 14 years’ experience in financial markets. She has held various roles for listed companies including AMP, Suncorp, Sequoia and for broadcast organisations including the ABC, Sky News, Seven Network and Nine Network. Jessica holds a Graduate Certificate of Applied Finance and Diploma of Financial Services and Journalism and is completing a Master of Applied Finance.
Team Member

Tim Sparks

Head of Distribution, Media and Marketing of Third Party Platform Pty Ltd

Tim Sparks is Head of Distribution, Media and Marketing for Third Party Platform Pty Ltd including its associated businesses Bell Direct, Desktop Broker and Bell Potter Online. Prior to joining Bell Direct in 2019, Tim was National Manager – Broking and Wealth Management at Vanguard Australia. Prior to that he managed the Australasian broking strategy for BlackRock's iShares and managed transaction syndication for the Commonwealth Bank of Australia’s Equity Capital Markets Team. He holds an MBAE from the Australian Graduate School of Management, a Diploma in Financial Markets from the Securities Institute of Australia and an ADA Level 2 Accreditation through the Australian Stock Exchange.
Team Member

Lee Muco

Chief Operating Officer of Third Party Platform Pty Ltd

Lee Muco is the Chief Operating Officer of Third Party Platform Pty Ltd including its associated businesses Bell Direct, Desktop Broker and Bell Potter Online, with a particular focus on technology strategy and solutions as one of the founders and principal architects of the business. Lee has over 20 years’ experience in the delivery of market leading trading and investing solutions. He held several senior positions with Sanford Securities and was a Director and General Manager of Australian Investment Exchange Ltd, providing white labelled trading and investing solutions to several large Australian banks and a wide range of financial intermediaries including brokers and IFA groups. Lee is a Director of Third Party Platform Pty Ltd.
Team Member

Geoff Louw

Co-Head of Futures & FX - Bell Commodities and Bell FX

Geoff Louw is the Co-Head of Futures and FX. He joined Bell Potter Securities in 2008 and has over 40 years’ experience in financial markets. Geoff began his career in Foreign Exchange in South Africa for a merchant bank before gaining experience in Fixed Income and Interest Rate Markets at Investec Bank. In 1985, he migrated to Australia and worked in Capital Markets. During a period as a price maker at ANZ McCaughan and Australian Gilt Securities, Geoff used various Futures products to hedge positions and moved into Futures in 1991. Geoff joined Potter Warburg in the newly formed Futures team and became head of the Futures desk in Australia in 2001. After heading the Exchange Traded Derivatives Desk for UBS in Australia, Geoff joined Bell Potter Securities. Geoff has been a long standing member of the ASX Tribunal and is also a member of ASIC’s Market Disciplinary Panel.
Team Member

Tim Maxwell

Co-Head of Futures & FX - Bell Commodities and Bell FX

Tim Maxwell is the Co-Head of Futures and FX. Tim joined Bell Potter Securities in 2009 and has over 34 years’ experience in the futures markets. He commenced his career as an SFE Pit Boss, then trader and advisor for Barclays Bank, BZW/ABN Amro NV and Deutsche Bank AG. Tim has a wealth of experience advising in global fixed income and equity futures, primarily to the International CTA and Hedge Fund sectors.
Team Member

Rowan Fell

Chief Executive Officer of Bell Potter Capital Ltd

Rowan Fell is the Chief Executive Officer of Bell Potter Capital Ltd and has worked in stockbroking since 1983 in a range of senior roles across research, quantitative analysis, technology, product development and margin lending. Rowan was previously a partner at Goldman Sachs JBWere where among other things, he established their margin lending business. He joined Bell Potter Securities as Director of Investment Services in 2005 and in 2006 established Bell Potter Capital, our margin lending and cash management business. Rowan is a Director of Bell Potter Capital Ltd. He holds an Honours in Pure Mathematics from the Australian National University.
Team Member

Grant Brasher

Head of Distribution - Bell Potter Capital Ltd

Grant Brasher is Head of Distribution. He has more than 30 years’ experience in Financial Services including 11 years at Macquarie as Head of Distribution and 18 years as a Business Development Manager and Regional Director of Sales for NSW/ QLD. Grant is RG146 Accredited.
Team Member

Cindy-Jane Lee

Group General Counsel and Company Secretary

Cindy-Jane Lee is the Group General Counsel and Company Secretary of Bell Financial Group and joined the Group in 2013. Cindy previously held the position of Regional Legal Counsel, South Asia with Mercer and she has over 20 years’ experience in corporate and financial services law working in law firms and multinational companies in Australia, London and Singapore. Cindy holds a Bachelor of Economics and a Bachelor of Laws from Monash University.
Team Member

Craig Coleman

Independent Director

Mr Craig Coleman is an Independent Director. He is also a member of the Group Risk and Audit Committee. Mr Coleman was appointed to the Board in July 2007. Mr Coleman is Executive Chairman of private and public equities fund manager, Viburnum Funds Pty Ltd. Previously, he was Managing Director and a Non-Executive Director of Home Building Society Limited. Prior to joining Home Building Society, Mr Coleman held a number of senior executive positions and directorships with ANZ, including Managing Director – Banking Products, Managing Director – Wealth Management and Non-Executive Director of Etrade Australia Limited.

Other listed companies – past three years
Chairman, Pacific Star Network Ltd (November 2017–present)
Chairman, Universal Biosensors Inc (June 2016–present)
Chairman, Rubik Financial Limited (December 2006–May 2017)
Non-Executive Director, Pulse Health Limited (January 2010–May 2017)

Team Member

Christine Feldmanis

Non-Executive Director

Christine was appointed to the Board on 21 February 2020 and is a Non-Executive Director. She has more than 30 years of experience in the financial arena, with both government and private sectors. Christine has extensive experience in investment management, finance, accounting and risk management, legal and regulatory compliance, governance and business building in both the listed and unlisted financial products markets. She is currently a Non-Executive Director and Chair of the Audit and Risk Committees of Perpetual Equity Investment Company Ltd, IMF Bentham Ltd, FIIG Securities Ltd, Utilities of Australia Pty Ltd and Hunter Water Corporation, and is Chair of Bell Asset Management Ltd. Christine formerly held senior executive and C suite positions with firms including Deloitte, Elders Finance, Bankers Trust, NSW TCorp and Treasury Group Limited. Christine holds a Bachelor of Commerce and a Masters of Applied Finance. She is a Fellow of the Australian Institute of Company Directors, Trustee Fellow of the Association of Superannuation Funds of Australia, Senior Fellow of the Financial Services Institute of Australasia and a Certified Practising Accountant.
Team Member

Graham Cubbin

Independent Director

Mr Graham Cubbin is an Independent Director. He is also Chairman of the Group Risk and Audit Committee. Mr Cubbin was appointed to the Board in September 2007. Mr Cubbin was a senior executive with Consolidated Press Holdings Limited (CPH) from 1990 until September 2005, including Chief Financial Officer for 13 years. Prior to joining CPH, he held senior finance positions with a number of major companies including Capita Financial Group and Ford Motor Company. Mr Cubbin has over 20 years’ experience as a Director and Audit Committee member of public companies in Australia and the US. He is a Non-Executive Director of Teys Australia Pty Ltd.

Other listed companies – past three years
Chairman, McPherson’s Limited (September 2010–present)
Non-Executive Director, WPP AUNZ Limited (May 2008–present)
Non-Executive Director, White Energy Company Limited (February 2010–present)
Non-Executive Director, Challenger Limited (January 2004–October 2018)

Team Member

Brian Wilson AO

Independent Director

Mr Brian Wilson is an Independent Director. He is also a member of the Group Risk and Audit Committee. Mr Wilson was appointed to the Board in October 2009. He is a Senior Advisor to The Carlyle Group, a member of the Payments System Board of the Reserve Bank of Australia and Chairman of the UTS Foundation. Mr Wilson is the former Chairman of Australia’s Foreign Investment Review Board and a former Chancellor of University of Technology Sydney. He was a member of the Commonwealth Government Review of Australia’s Superannuation System and a member of the ATO Superannuation Reform Steering Committee. Mr Wilson retired in 2009 as a Managing Director of the global investment bank Lazard, after co-founding the firm in Australia in 2004 and prior to that was a Vice-Chairman of Citigroup Australia and its predecessor companies.