Former FuturePlus chief Brett Westbrook has taken a stake in boutique asset consultant Grove Research and Advisory (Grove) and become its executive chairman.
Westbrook, who was also chairman of the Fund Executives Association Limited and president of the Australian Local Government Superannuation Association, said he was not quite like Victor Kiam of Remington.
Kiam was the US tycoon who said of Remington shavers "I liked the shaver so much, I bought the company".
"I bought a stake in this firm because I believe Grove is well positioned in its present market segment and has great potential for future growth," Westbrook said.
"Grove is a well-respected asset consulting group with its own wholesale web-based investment platform. It's also a leader in supplying non-conflicted advice to risk-averse investors, such as local governments, charities and health funds. These are areas that have long held deep interest for me."
Westbrook joins a cast of former superannuation executives that have crossed over to the consultancy and funds management side of the business.
In March, two superannuation fund chiefs left their funds to take up jobs in funds management.
Qantas Superannuation chief executive Jeremy Edmonds moved to Colonial First State Global Asset Management as a business development manager, while MTAA Superannuation trustee John Rickus accepted the job as chair of strategic adviser Principal Advisory Services.
Grove was founded in 1991 and has over 100 clients that advise on $2.6 billion in funds.
