Payton Capital recruits Queensland directors

Phil Heissenbuttel
Payton Capital - Investment Director
Date: 5 February 2024
Position: Investment Director
By Elizabeth Fry

Payton Capital has bolstered its investor services team in Queensland by recruiting investment directors from two of the country's largest banks.

Former Westpac private banker Phil Heissenbuttel and National Australia Bank private banker Chris Bevans specialise in banking and investment services for ultra-high-net-worth individuals, family office clients and wholesale investors.

Heissenbuttel has experience in sales, relationship management and leadership roles across diverse segments such as agribusiness, and commercial and corporate banking.

For his part, Bevans has detailed knowledge of wholesale investors and debt markets across various asset classes.

The duo is tasked with introducing investors to the commercial real estate private debt asset class which is growing dramatically in Australia, in line with  Europe and the USA.

Payton Capital investment head Craig Schloeffel said the latest research revealed this market is on track to double in the next five years and the business needs to be prepared with well-credentialed staff.

Since the non-bank sector gets much of its funding from family offices and high-net-worth investors, the inclusion of Heissenbuttel and Bevans - both with private banking backgrounds - is a huge advantage.

The appointments follow the hire of former NAB executive Grant Murphy to lead the firm's Brisbane business late last year.

As for bankers joining private real estate debt funds, Schloeffel explained that banks have faced increasing regulatory scrutiny, particularly within their wealth management divisions.

Moreover, many institutions have undergone restructuring, moving away from the vertically integrated banking and wealth model that seasoned bankers were accustomed to.

"Bankers typically have fantastic client acquisition and management skills but anecdotally the internal tightening of cost management has hampered some in basic client engagement activities frustrating many," he stated.

"Additionally, the allure of independence offered by private credit firms presents an attractive alternative to the confines of the Big 4 banking environment.

"This freedom allows bankers to explore opportunities within a boutique setting, providing them with greater autonomy and flexibility to do what they do best.

The two appointments further mark Payton Capital's commitment to growing the business in line with the expansion of this asset class.

"We know a lot of opportunities will present themselves for investors in this asset class in the coming years," Schloeffel added.

"As the market grows, so will the professionals familiar with this asset class and want to work in a growth industry."

Payton Capital has grown considerably in the past three years from both a funds under management and staff perspective.

Currently, FUM is at just over $1 billion. AUM sits at $1.3 billion.