Watershed hires ops and strategy lead

Watershed Funds Management has brought in a head of operations and strategy to lead the firm ahead of rapidly rising inflows.

The asset manager has appointed Centrepoint Alliance Regional Manager Peter Truong to the newly created general manager role for those functions.

Reporting to Watershed managing director Adam Rowley, the recruit will oversee group strategies, and operations and align all the business units to achieve growth.

Truong will look to drive greater efficiency in the business through automation of systems, explore how new technology can support the business needs and, more importantly, add value to the adviser network.

Data analytics will provide the team with timely data to make decisions and direct the team to new opportunities.

Before his four years at Centrepoint, where he served as Regional Manager for Victoria, Truong worked as a practice manager at several financial planning firms, driving efficiencies and growth with data analytics.

Practices include Financial Wisdom, Evolution Diversified Investment Services, and CommSec Wholesale Advisory.

Truong created the technology, processes and growth strategy for the CommSec business.

Previously, he worked as an investment advisor for CommSec and CBA private clients.

Rowley said Watershed's investment solutions are being increasingly recognised and endorsed by the financial services community as shown by rapidly rising inflows.

Revenue has grown consistently, with average revenue growth over 30 per cent with $1.5 billion of funds under management.

"During this period of such robust business growth, securing someone of Peter's talents couldn't be more timely," added Rowley.

"With the need for efficiency, automation, and AI playing such a big role in the marketplace, Peter's experiences and skill set will help our business address these matters to deliver results for our advisers and their clients"