Ex-UBS boss joins financial services firm as executive chair

Former UBS Advisory and Capital Markets managing director Guy Fowler is set to join new financial services firm Barrenjoey Capital as executive chair.

Magellan Financial Group, which has become a foundational investor in the partnership, announced the news. Brian Benari will serve as chief executive. The organisation has yet to appoint an independent chair.

"Magellan is delighted to be a founding partner of Barrenjoey," said Magellan CEO Brett Cairns. "We believe the partnership model that leaves control, equity ownership and core decision making with the executives is proven and powerful.

"By offering true ownership and autonomy to staff, we believe that Barrenjoey will be able to attract the best and brightest talent in the country providing clients with the best possible service and outcomes."

Fowler spent more than 25 years with UBS and several years before that with PwC. He said, "Our vision is to create a platform that will attract, liberate and reward the very best people so they can produce outstanding outcomes for our clients. There are a lot of talented people in the market who are looking for a true partnership which has a team atmosphere, is more entrepreneurial and also provides greater flexibility than traditional firms."