Family office appoints inaugural chief executive

Coaxial, the family office of Nicola Forrest, has welcomed its first chief executive.

Current UBank chief executive Philippa Watson has been appointed by Forrest to lead her family office and philanthropic venture, founded in 2023.

Through Coaxial, Forrest will redistribute her personal wealth, particularly in support of disadvantaged children, families and communities. Its first major program, Project Oasis, is focused on increasing access to early learning in 'childcare deserts'.

Forrest described Watson as "a proven leader with a remarkable track record in transformation and impact."

"Her strategic vision, operational excellence, and deep commitment to purpose-driven leadership will be critical as Coaxial accelerates its mission - connecting capital, changemakers, and communities to drive systemic change and unlock the potential of all Australians," Forrest said.

"Philippa's leadership comes at a crucial time as Coaxial moves into delivery mode... her expertise will be instrumental in advancing this work and further developing Coaxial's impact investment strategy and programs to create new opportunities for those who need them most."

Watson has led UBank since June 2020, having previously been with Commonwealth Bank for 14 years in a raft of executive roles.

"It is a privilege to bring my experience to Coaxial in support of the bold vision of Nicola Forrest," Watson said.

"I look forward to the opportunity to work with passionate Australians to achieve positive change in our communities and to leading the Coaxial team at this pivotal time."

In December, Coaxial appointed an inaugural chair to its foundation board in Julia Davison, alongside new director Tanya Hosch.

The sit alongside existing directors Bree Fraser, Jay Weatherill, and the foundation's head Alyssa Lane.