The move adds another ex-bulge bracket banker to the line-up – Wilsons’ chairman is John Prendiville, a two-decade veteran from Macquarie who joined last year.
Morgan Stanley Wealth Management has spent the year reworking its operations, focusing on Australia’s wealthiest individualsAt Wilsons, Nicholls will report to the firm’s head of private wealth, Casimir Skillecorn. The hire adds another ex-bulge bracket banker to the line-up. Wilsons’ chairman is John Prendiville, a two-decade veteran from Macquarie who joined the firm last year, while Casimir and chief executive Brad Gale were both at Goldman Sachs.
The appointment of Nicholls, who was made co-head of Morgan Stanley Wealth Management alongside Rebecca Hill only in November, comes amid significant change in the sector. UBS, which had quit wealth management locally, is back after acquiring Credit Suisse, while Goldman Sachs – which serves only the wealthiest clients – is doubling its staff count.
“The number of high net wealth clients seeking advice continues to grow and the number of advisers that service this market has halved over the last 5 years,” he wrote in an email to staff on Monday. “In order to capture the opportunity and to execute on these strategic priorities we need to ensure that we have the right team in place to execute our Strategic Plan.
“Given Matthew’s significant operational expertise he will continue to develop the product, tools and infrastructure to support our advisers and connection with clients.” has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
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