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a masters stroke
As well as being a key player in Australia’s biggest private wealth business, Brad Gale has a close affinity with professional golf that put him alongside Tiger Woods at Kingston Heath
last November. By Paul Myers.
Golf runs in the family for Brad Gale, but it wasn’t why he decided to sponsor the 2009 golf tigerfest, otherwise known as the Australian Masters, on behalf of JBWere, of which he is the firm’s Sydney managing director.
Brad’s father, West Australian Terry Gale, is one of the legends of Australian golf, the equal seventh most-winning player on the Australian tour with 21 victories. Brad and his two brothers, one of whom – Mark – played AFL for Fremantle and St Kilda, often travelled with their parents to golf tournaments in Asia and Europe, and he became accustomed to being around the world’s best players.
So when he stepped on to the first tee with Tiger at the Masters pro-am last November, Brad was “excited” rather than intimidated by playing with the world number one. Coincidentally, Tiger’s caddy, Steve Williams, had also caddied for Terry Gale in the 1980s, before teaming up with Greg Norman.
A scratch marker when he was playing seriously, Brad is currently a “four times a year” player, so he practised before the Wednesday pro-am at Kingston Heath. He and six others played with Stuart Appleby and Tiger in the event. “Of the eight players in two groups, Tiger was the only one to miss the first fairway,” Brad recalls with a laugh. “Fortunately, I hit a pretty ropey draw that landed on the fairway.” He went on to play the first nine seven over, but came home with an impressive one-under on the back nine.
Although unfazed by teeing off next to Tiger, what amazed Brad was the crowds of three and four deep that lined the fairway for the traditional pre-tournament fun round. And he was impressed with the seriousness that Tiger and the other pros took their responsibility to the main sponsor.
While unprepared to confirm that JBWere, the private wealth funds business now owned 80.1 percent by National Australia Bank and 19.1pc by Goldman Sachs, spent a commonly-touted $1.8 million on the Masters sponsorship, he says it was too good an opportunity to miss.
“This was perfect timing for us,” he says. “There was a whole aura about the tournament that crossed all boundaries.” A stroke of genious. Or a stroke of luck, perhaps. But was it worth the cost? “We have yet to fully evaluate that,” Brad says. “We received overwhelmingly positive feedback.”
The sponsorship was also a statement about the 169-year-old company, established in Melbourne in 1840 by Jonathan Binns Were, shaking off more than half its US ownership as well as Goldman Sachs from its name. NAB acquired its 80.1pc equity in the company in July last year, so when the Masters sponsorship opportunity arose, the timing seemed perfect.
“Golf is a major global and domestic business,” Brad explains. “It [the sponsorship] was an opportunity for us to let the market know that JBWere private wealth is a successful business. It allowed us to thank our clients, to prospect to potential clients, and demonstrate to staff that we want to reinvest in and grow the business. We enjoyed the experience immensely.”
As you would, playing a round with Tiger.
“What really impressed me was his putting and how conservatively he played the course,” Brad explains. “He is an unbelievable putter,” he adds (as Rocco Mediate and numerous others can attest) … “and his iron play is exceptional. He hits a 5-iron with the accuracy that others would expect of an 8-iron”.
What did they talk about during the round? “Nothing of any real note; all sorts of chit-chat, just as you would on a Saturday morning round with a few mates. We talked about the way he plays a course, about his foundation and so on. I found him to be a very worldly guy and he makes a real effort to be a regular person.”
As is Brad Gale, age 36, who runs the Sydney office of Australia’s largest private wealth management business, with more than $10 billion of funds and considerable other assets in its portfolio. A commerce degree from the University of Western Australia propelled him into a job with KPMG in Perth, after which he joined Credit Suisse in London. He returned to Perth to manage JBWere’s office there at the age of 28 and five years ago took the reins in Sydney.
Brad believes that golf and business share many similarities. He especially likes the integrity of golf, as well as its subtlety and etiquette. He names integrity, honesty and client service as the three essential ingredients for business success.
And, as with golf and Tiger’s game in particular, “keeping it simple”.
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