Resources banker turned private investor John Prendiville is expected to take an equity stake in stockbroker and wealth manager Wilsons, after joining the company’s board as chairman.
John Prendiville, pictured as an up and comer at Macquarie in 2001, has transitioned into private investing.Prendiville, who made his name during a 20-year stint with Macquarie Group, will take the Wilsons chairman’s seat from Neil Craig, who represents the firm’s 50 per cent owner Craigs Investment Partners.
Prendiville’s hire is a coup for Wilsons, which is perhaps best known for its institutional equities business but has 250 private wealth adviser and about $50 billion in client assets under advice. Wilsons will be seeking to tap into Prendiville’s resources and technology sector knowledge and contact book, trying to make the most of his 30-years in financial markets.
Prendiville has made a smooth transition from investment banking to early-stage investing in the past decade, often working alongside fellow Macquarie veteran Michael Carapiet in their venture Point Capital.His current roles include a boardseat at Smartgroup and as a director and shareholder at SME financier GetCapital, while he formerly chaired ASX-listed Kina Petroleum.
He’s expected to buy into Wilsons’ equity syndicate next month, in the firm’s once a year trading window for equity partners., is also expected to buy in. Richards has since been promoted to head Wilsons’ Melbourne office.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.