Primed for Asian and US expansion

Melbourne-based Opes Prime Stockbroking has embarked on an aggressive growth strategy, announcing that it plans to increase its presence in both Australia and internationally, including Asia and the United States.

Director Julian Smith said the company, which specialises in securities lending, equity financing, trade execution and corporate finance and asset management, aimed to “move to the next level” in the range of services it provides globally.

“We have an office opening soon in New York and our business in Asia continues to grow. With that growth we face increasing complexity and risk management and the need to engage in a fuller dialogue with our regulators, financiers and others.”

To help cater for this growth, Opes has made three senior appointments.

Accredited master stockbroker Frank Dunphy has been appointed ASX-responsible executive and consultant to the board, responsible for advising on the governance, statutory and regulatory environment.

Previously, Dunphy, who also has ASX derivatives accreditation, worked as managing director and responsible officer for Lehman Brothers Australia and, prior to that, as managing director of Bendigo Stock Exchange.

Tony Iremonger, a certified practising accountant, joins Opes as chief financial officer. He has more than 20 years experience in stockbroking and financial markets, most recently with Austock Brokers and Potter Warburg.

In addition, Gordon Browne has been promoted internally to the newly created role of chief risk officer. Smith said the new role reflected the group’s increasingly complex suite of services and the importance of risk management.