Viridian promotes to investment team, launches Infinity

Viridian Financial Group announced three promotions to its investment leadership team as it merges its asset management and private wealth businesses under a single unit called Infinity.

Viridian has brought together Infinity Asset Management and its wholesale private portfolios businesses under the one brand.

Coinciding with this, Melissa Goodman has been promoted to head of private portfolios after spending more than five years as a portfolio manager.

Chris Reynolds takes on the role of head of research, stepping up from being a portfolio manager.

Finally, Andrew Devonport took on the role of head of product at the start to the year after joining the group in May 2024 as an associate.

Viridian chief executive Raamy Shahien said the newly created positions are designed to support the next phase of growth for Infinity, which now manages more than $5.5 billion on behalf of clients.

"The advice market has evolved significantly over the past decade. Advisers are supporting increasingly diverse client needs, from retail investors through to high-net-worth families and not-for-profits, requiring highly personalised investment solutions," Shahien said.

"Bringing our investment capabilities together under one Infinity brand reflects the business we've become and provides advisers with a dedicated investment partner that can support their business and clients across the full spectrum of investment needs."

Infinity offers managed account portfolios, Australian equities and private markets unit trusts, as well as private portfolio solutions.

In April, Shahien told Financial Standard that Viridian is eyeing mergers and acquisitions and targeting a double-digit growth rate.

"We're seeing increasing demand from advisers for businesses to take greater responsibility for investment outcomes, particularly as the industry responds to recent disruption and a sharper focus on governance and accountability," he said at the time.

Viridian currently employs more than 100 advisers servicing 15,000 clients.

Global private equity firm TA Associates took an undisclosed investment in Viridian last year to help the latter accelerate its next phase of growth.