Mark Jephson, ex Perpetual Guardian chief, has joined Auckland-based specialist firm, Mosaic Financial Services Infrastructure, as partner.
Mosaic founding partner, Myles Allan, said Jephson – who led Perpetual Guardian for almost two years ending August 2020 – would “add a complementary layer of expertise” to the consulting business.
“His thorough understanding of how the corporate trustee, licensed supervisory and funds management markets actually operate in NZ will be a huge benefit to our clients as they face the challenges and opportunities of growth, regulatory change and technological development,” Allan said in a release.
Before taking on the top job at Perpetual Guardian, Jephson served 12 years at ex-sister firm Guardian Trust in various senior corporate trustee roles. Previously part of the Complectus trustee roll-up business, Guardian was sold last year to Hong Kong-headquartered firm, Tricor, for an undisclosed sum: Perpetual Guardian, now headed by Patrick Gamble, remains in the Complectus camp.
Jephson also held positions in Australia with Perpetual (unrelated to Perpetual Guardian) and several investment banks in the UK.
More recently, he has been carrying out project work for Public Trust, setting the scene for a shift to full-time consulting.
“Mosaic has a lot of ‘lived experience’ in the team, which is a point-of-difference that encouraged me to join the business,” Jephson said in the statement. “I’m excited about bringing my experience to help fund managers understand the views of regulators and supervisors, for example.
“The long-term opportunities for fund managers, banks, wealth managers and other financial services firms in NZ are strong – as long as they do things the right way.”
He said the industry still had to focus on day-to-day operational functions despite the current background of “regulatory noise”.
His appointment, officially due to start on January 24, underscores a period of rapid growth at Mosaic, which now counts six partners among a total team of 70 consultants or project delivery specialists – more than doubling over four years.
Mosaic hired Jigs Jamnadas last October in the newly created chief operating officer role to help coordinate the fast-growing business.
Allan said there was increasing demand in the NZ financial services industry for independent advice from experienced specialists along with efficient operational solutions.