Nicola Forrest, Australia’s second-richest woman, has appointed UBank chief executive Philippa Watson as the inaugural head of her new family office, Coaxial.
Forrest split from her husband iron ore magnate Andrew Forrest in 2023, prompting a financial separation that resulted in her gaining control of slightly more Fortescue shares than him. Last year, the Financial Review Rich List estimated her wealth at more than $16.9 billion.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
