Notice of Annual General Meeting
Please find attached a copy of Bell Financial Group Limited’s 2020 Notice of Annual General Meeting and Proxy Form. View full announcement >
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
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
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
SEE OLDER ANNOUNCEMENTS
2019
2018
2017
| 21 December 2017 | Bell Financial Group - Market Update |
| 12 December 2017 | UBS selling its 15.8% shareholding in Bell Financial Group Limited |
| 9 August 2017 | Notification of Dividend Distribution |
| 9 August 2017 | BFG half year results announcement |
| 19 April 2017 | Bell Financial Group - 2017 AGM Results |
| 19 April 2017 | Annual General Meeting Presentation |
| 28 March 2017 | Ceasing to be a substantial holder from SOL |
| 1 March 2017 | Ceasing to be a substantial holder - HHL |
| 22 February 2017 | Bell Financial posts strong FY profit, increases dividend |
| 22 February 2017 | Dividend Distribution Announcement |
| 22 February 2017 | BFG 2016 Corporate Governance Statement and Appendix 4G |
| 22 February 2017 | BFG 2016 Annual Report and Appendix 4E |
| 02 February 2017 | Bell Financial Group FY profits expected to exceed $24m |
2016
2015
| 10 November 2015 | Bell Financial Group 10-month profit up 100% on FY 2014 |
| 21 October 2015 | Cleansing Notice |
| 21 October 2015 | Appendix 3B |
| 05 October 2015 | Change of Director's Interest Notice |
| 05 October 2015 | Change of Director's Interest Notice |
| 29 September 2015 | Change of Director's Interest Notice |
| 29 September 2015 | Change of Director's Interest Notice |
| 11 September 2015 | Change of Director's Interest Notice |
| 11 September 2015 | Change of Director's Interest Notice |
| 11 August 2015 | Dividend Distribution - BFG |
| 11 August 2015 | BFG Half-Year Results Announcement |
| 09 July 2015 | First half profits up by 300% |
| 29 April 2015 | 2015 BFG Results |
| 29 April 2015 | 2014 AGM Presentation |
| 27 March 2015 | Notice of Annual General Meeting/Proxy Form |
| 24 February 2015 | Full year 2014 results |
| 28 January 2015 | Call option to acquire 100% Bell Direct |
2014
| 20 October 2014 | Final Director's Interest Notice |
| 20 October 2014 | Director Appointment/Resignation |
| 22 August 2014 | BFG 2014 Half Yearly Report and Accounts |
| 12 May 2014 | Change of Director's Interest Notice |
| 05 May 2014 | Change of Director's Interest Notice |
| 01 May 2014 | 2014 AGM Results |
| 01 May 2014 | 2014 BFG Presentation |
| 29 April 2014 | Bell Direct selected by Macquarie |
| 27 March 2014 | 2014 AGM Proxy Form |
| 25 March 2014 | Initial Director's Interest Notice |
| 20 March 2014 | Director Appointment |
| 28 February 2014 | Change of Director's Interest Notice |
| 25 February 2014 | 2013 Annual Report |
| 25 February 2014 | 2013 Annual Results |
| 20 February 2014 | Citi and Bell Potter sign MOU |
| 10 January 2014 | Company Secretary Appointment |
2013
| 11 December 2013 | Change of Director's Interest Notice |
| 10 December 2013 | Change of Director's Interest Notice |
| 10 December 2013 | Change of Director's Interest Notice |
| 19 November 2013 | Change of Director's Interest Notice |
| 18 November 2013 | Change of Director's Interest Notice - Appendix 3Y |
| 20 August 2013 | 2013 Half Yearly Report and Accounts |
| 18 July 2013 | Company Secretary Appointment & Resignation |
| 28 May 2013 | Appendix 3B |
| 18 April 2013 | 2013 Annual General Meeting Presentation |
| 18 April 2013 | Results of Meeting |
| 18 March 2013 | Notice of Annual General Meeting/Proxy Form |
| 22 February 2013 | Bell Financial Group 2012 Results |
| 22 February 2013 | Media Release - 2012 Results |
| 22 February 2013 | Preliminary Final Report |
| 14 February 2013 | 2013 Annual General Meeting |
2012
2011
| 23 August 2011 | BFG 2011 Half Year Results |
| 20 June 2011 | BFG Media Release - Unaudited results for the six months |
| 01 July 2011 | Bell Potter takes control of Southern Cross Equities |
| 18 March 2011 | Notice of Annual General Meeting/Proxy Form |
| 28 February 2011 | Change of Director's Interest Notice |
| 28 February 2011 | Change of Director's Interest Notice |
| 24 February 2011 | Change of Director's Interest Notice |
| 22 February 2011 | Notice of Initial Substantial Holder - Perpetual Limited |
| 22 February 2011 | 2010 Annual Report |
| 22 February 2011 | Preliminary Final Report Appendix 4E |
| 22 February 2011 | BFG ASX Release 2010 Results |
| 01 February 2011 | BFG extends option period for Bell Direct |
| 17 January 2011 | BFG unaudited 2010 full year results |
| 11 January 2011 | BFG Appendix 3Y |
2010
PERFORMANCE (ASX:BFG)
FINANCIAL CALENDAR
2020
21 FEB
Final Results and Dividend Announcement
2020
5 MAR
Ex-dividend Date for Final Dividend
2020
6 MAR
Record Date for Final Dividend
2020
18 MAR
Final Dividend Payable
2020
23 APR
Annual General Meeting
2020
30 JUN
Financial Half Year End
2020
12 AUG
Interim Results and Dividend Announcement
2020
31 DEC
Financial Year End
DIVIDENDS
FINAL
100% FRANKED
RATE PER SHARE
4.50c
RECORD DATE
6 MARCH 2020
PAYMENT DATE
18 MARCH 2020
INTERIM
100% FRANKED
RATE PER SHARE
3.50c
RECORD DATE
22 AUGUST 2019
PAYMENT DATE
29 AUGUST 2019
FINAL
100% FRANKED
RATE PER SHARE
4.25c
RECORD DATE
8 MARCH 2019
PAYMENT DATE
20 MARCH 2019
INTERIM
100% FRANKED
RATE PER SHARE
2.75c
RECORD DATE
17 AUGUST 2018
PAYMENT DATE
29 AUGUST 2018
FINAL
100% FRANKED
RATE PER SHARE
5.50c
RECORD DATE
9 MARCH 2018
PAYMENT DATE
21 MARCH 2018
CORPORATE GOVERNANCE
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
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
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Colin Bell founded Bell Commodities in 1970 after working with the International Bank for Reconstruction and Development in Washington DC and has responsibility for business development. Colin is a Director of Bell Potter Securities Ltd, Bell Potter Capital Ltd and Third Party Platform Pty Ltd.
Alastair Provan is the Executive Chairman of Bell Financial Group and is responsible for the day to day management of all businesses within the Group. Alastair joined Bell Commodities in 1983 and held a number of dealing and management roles prior to becoming Managing Director of the Group in 1989. Alastair was appointed Executive Chairman in 2019. Alastair is the Executive Chairman of Bell Potter Securities Ltd and Bell Potter Capital Ltd, and a Director of Third Party Platform Pty Ltd.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Craig Coleman was appointed as a Director in July 2007 and has been an Independent Director since October 2007. He is a member of the Group Risk and Audit Committee. Craig is also Chairman of Third Party Platform Pty Ltd and a Director of Bell Potter Capital Ltd. Craig 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, Craig 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. He holds a Bachelor of Commerce from the University of Western Australia.
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Chairman, Pacific Star Network Ltd (Nov 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)
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.
Graham Cubbin was appointed as a Non-Executive Director in September 2007 and is an Independent Director. He is the Chairman of the Group Risk and Audit Committee. Graham 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. Graham has over 20 years’ experience as a Director and Audit Committee member of public companies in Australia and the U.S. Graham holds a Bachelor of Economics (Honours) from Monash University and is a Fellow of the Australian Institute of Company Directors (FAICD).
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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)
Brian Wilson was appointed as a Non-Executive Director in October 2009 and is an Independent Director. He is a member of the Group Risk and Audit Committee. Brian is a Senior Advisor to The Carlyle Group, a member of the Payments System Board of the Reserve Bank of Australia and former Chancellor of University of Technology Sydney. Brian is the former Chairman of the Foreign Investment Review Board. He was a member of the Commonwealth Government Review of Australia’s Superannuation System and a member of the ATO Superannuation Reform Steering Committee. Brian 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. Brian holds a Bachelor of Commerce and Masters of Commerce (Honours) from the University of Auckland, in addition to an Honorary Doctor of the University degree from the University of Sydney. He was appointed an Officer of the Order of Australia (AO) in 2017.