Mainstream Group Holdings, the largest independent managed funds administrator in Australia, has recruited Andy Harrison, the former head of Link Fund Solutions, as its new chief executive of fund services for Australia. As reported last week, he left Link after about 15 months there.
The appointment is a coup for Mainstream. It is also expected to start a disruptive phase in the investment admin market. Link is the biggest company operating there, by a wide margin. It’s response to Harrison’s defection will be interesting to observe.
Mainstream, which was started by Byram Johnston and Martin Smith, former management consultants, has embarked on a global expansion program over the last few years, which has taken the firm to a truly global presence across Asia, the Americas and Europe. Byram is now executive chair and Martin is group chief executive.
Martin Smith said last week, in an announcement to the ASX, that Harrison would join the firm in October. The current chief executive of Mainstream Fund Services in Australia, Nick Happell, has been promoted to chief executive of Asia Pacific. Martin Smith will relinquish that role and concentrate on his group responsibilities and key clients.
As reported previously, Andy Harrison joined the former White Outsourcing in 2002 and was an integral player in building that business in the managed fund admin market. He was a part of the team which sold it to the listed broker Steadfast Group in 2013 and then main man who joined Link when it bought the business in late 2016.