How David Evans’ wealth vision went horribly wrong
The top stockbroker wanted to create a firm based on old world trust and integrity. But now its best chance of success lies in a retreat from life as a listed company.
When Melbourne stockbroker David Evans walked out of Goldman Sachs JBWere in June 2007 to set up his own broking business, he sold his fellow defectors a vision to recreate a trusted wealth management firm in the style of its predecessors.
“I felt for some time that the market misses what JBWere once was,” he said. “JBWere was a high-integrity, high-trust independent stockbroking business for Australians.”
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
