Advent builds Australian presence with new appointment

The role will be filled by a former Future Fund board member who has also held roles at Macquarie, NAB and AMP.

Global private equity investor Advent has appointed Patricia Cross as an operating partner for Australia and New Zealand, strengthening its regional financial services expertise as it looks to drive growth across portfolio companies.

Cross brings more than four decades of executive and board level experience spanning wealth management, asset management, institutional banking and governance. In the role, she will work closely with Advent's investment professionals and portfolio company leadership teams on strategic directions, governance and long-term value creation initiatives across the region.

Advent managing director and head of Australia and New Zealand Beau Dixon said Cross's appointment adds significant sector and governance expertise to the firm's local operations.

"Her perspective will be highly valuable to our investment professionals and portfolio company leadership teams as we continue to build our presence in the region," said Dixon.

Cross said she was joining the firm at a time of significant change across the financial services landscape.

"Financial services is a sector undergoing profound change, and I look forward to working alongside Advent's teams to help portfolio companies navigate that environment, strengthen their strategic positioning, and drive sustainable growth," Cross said.

Cross currently serves as chair of OFX and as an independent non-executive director of Transurban. She also recently completed a five-year term on the board of guardians for Australia's sovereign wealth fund, the Future Fund.

Her previous board roles include positions as Macquarie Group, National Australia Bank, AMP, Quantas Airways, Wesfarmers and Avia.

Prior to her board career, Cross held senior executive roles across seven countries with institutions including Chase Manhattan Bank, Banque Nationale de Paris, and National Australia Bank.

The appointment adds to Advent's global network of more than 145 operating partners and operational advisers supporting the firm's portfolio companies.