Mutual Trust, the country’s largest and oldest family office that has overseen the fortunes of the Baillieu and Myer families, is bidding farewell to a key revenue writer from its Sydney office.
Angus Mann, a director of wealth at Mutual Trust for the past 5½ years, has lobbed his resignation and defected to Barrons-listed adviser Charlie Viola’s freshly minted firm.
Sources said Mann had overseen about $500 million in client assets and nearly $1.8 million in annual revenues at Mutual Trust and was a key person for its fund management operations out of Sydney. He has formerly worked at Morgans, Bell Potter and Macquarie as part of a 17-year-long career.
He is due to clock in as a financial adviser at Viola Private Wealth on Tuesday, four months after the Barrons-listed financial adviser ripped out $2.5 billion from Pitcher Partners’ Sydney offices in a management buyout. The firm advises C-suite executives and founders on managing their private wealth and is shooting for $10 billion to $12 billion in assets within five years.
“We are creating something special here and Angus, with his encyclopaedic knowledge and endowment-style investment approach, will help us get there,” Viola said when contacted by Street Talk.
Mann’s defection comes after this column on Sunday reported Escala Partners had lost two advisers Tom Meagher and Mark Cooper, who has overseen about $600 million in client assets, to rival Koda Capital amid a long-running outflow of talent.
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