MLC appoints John Brakey head of private equity
MLC has appointed private equity specialist John Brakey from global alternatives manager KKR to head up MLC's private equity division, starting from later this month.
At KKR Brakey was responsible for investor relations and fundraising for private equity in the Australian and New Zealand market. Prior to that he was head of private equity at Macquarie Bank, where he built the private equity team and grew funds under management from $160 million to over $5 billion, according to MLC.
Garry Mulcahy, MLC's executive general manager, asset management, welcomed Brakey to the team and said MLC was committed to building and strengthening its private equity business.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
