Andrew Hewison to step down after Pemba Capital investment

Hewison Private Wealth managing director Andrew Hewison has announced he will be wrapping up his 25-year tenure towards the end of the year following Pemba Capital Partners' investment in the Melbourne-based business last week.

Announcing his upcoming departure on LinkedIn, Hewison said the planning of his exit was noted well ahead of time.

"In November 2024, I sat down with key people at Hewison Private Wealth and told them I thought I had about two years left in me to continue leading the team with the required passion, drive and enthusiasm. In life, you either give 100% or nothing," Hewison said.

"Fast forward to September 2026, and today we told our clients that I'll be stepping down as managing director of Hewison Private Wealth towards the end of this year.

"Raising it early gave the board and shareholders time to build a deliberate transition plan, which included building out an exceptional executive team and establishing a clear strategic path forward."

The announcement follows Pemba Capital Partners' investment in the business, which was described a non-operational stake, noting Hewison Private Wealth will continue to operate with full independence under the current leadership.

Other than Hewison's departure, there is no change to the firm's advisory team, investment philosophy, client service model, or direct asset ownership structure, Hewison Private Wealth said.

The transaction marks a significant milestone in Hewison's 40-year history and reflects the firm's commitment to securing the resources and long-term capability required to continue delivering exceptional outcomes for its clients into the next generation, it said.

The investment will fuel the firm's ambition to become one of Australia's leading boutique wealth management businesses, Hewison noted at the time of announcement.

"We were patient, we were selective, and we found a partner who genuinely understands what Hewison Private Wealth stands for. Our clients can be completely assured that their adviser, their strategy, their assets held directly in their name, and the independence that has defined us since 1985 are all unchanged," he said.

"What changes is our capacity to invest in the future of this firm, in our people, our technology, and the depth of service we provide.

"While we absolutely continue to stand for the beliefs and values [we stood for], we have also learnt that to continue growing client value, we must continue to change and evolve."

Pemba Capital Partners managing director Mark Bryan added: "Pemba has been exploring a partnership with a wealth platform for some time. Hewison stood apart: genuinely independent, a 40-year track record, and a culture built around its clients, none of which we intend to change."

"Pemba is looking forward to investing in its client experience, its people and its technology."

Founded by John Hewison in 1985, Hewison Private Wealth manages approximately $3 billion in funds under advice on behalf of high-net-worth and ultra-high-net-worth Australians, and operated without commissions or product influence while maintaining a zero professional indemnity claims record across its 40-year history.