Monthly CFO Market Intelligence | Highbury Executive Talent Issue No. 2 | July 2026
THIS MONTH IN THE MARKET
Three rate hikes in five months. That's the environment Australian businesses are now operating in.
The RBA held the cash rate steady at 4.35% at its June meeting; a unanimous decision, and the first pause after a punishing run of increases in February, March, and May.
Meanwhile, the other event the world has been waiting for finally kicked off: the FIFA World Cup 2026 with our beloved Socceroos showcasing their fighting spirit, with a few heroic and gutsy performances to take them into the knockout rounds. Next game against the Egyptian Prince will be another difficult test. Highlights back home include St Kilda Beach being renamed Patrick Beach, much to the disappointment of teammate Aziz Behich.
For CFOs managing businesses through an increasingly uncertain macro environment, at least the football offers a reliable distraction.
WHO’S MOVED
Highbury has tracked over 20 CFO movements in June, with an equal spread across the PE and ASX landscape as we head into the year-end reporting season.
PRIVATE EQUITY
Following on from last month’s announcement, Andrew Wilson has now been confirmed as the new CFO of Cyclotek, joining one of Five V’s standout portfolio assets.
Tim Fawaz moves into the CFO chair at Home Furniture Group, bringing his integration and retail credentials to a business reshaped by the recent Amart and Freedom merger. Quadrant will be hoping the new-look group is the one that finally gets it over the exit line, after four cracks at it already.
Reece Davies has landed his maiden CFO appointment joining MicroGridPower. No small feat, and a thoroughly well-earned one.
Phil McEvoy has also secured his maiden CFO appointment, promoted into the role with Brennan. Congratulations, and as I told you five years ago, it was always going to work out.
Another follow on from last edition, as expected Olivia Cameron has been quickly promoted into the CFO role with VetPartners.
Paul Garvey traded his treasury role with Metrics for the CFO position with Moneytech, a return into the familiar CFO seat.
ASX LISTED
A few promotions at Infratil worth mentioning, saw CFO Andrew Carroll stepping up to COO, with Deputy CFO Matt Ross elevated to fill the CFO seat behind him. A clean succession, and one that points to incredible bench strength at the NZ infrastructure powerhouse.
Erik Van den Enden has been named the new CFO with Ansell. An appointment that seems to fit like a glove, sitting alongside the new CEO in the Belgium HQ.
Lawrence Wong has been added to the Abacus Group executive team as the new CFO.
Kunal Shah joins Attura as CFO with outgoing CFO Herb To remaining through to September to support with the transition.
James Allaway has been appointed CFO with L1 Group, the ASX-listed fund manager, another well-earned maiden CFO appointment.
Craig Ward has had the interim tag removed, confirmed as CFO of Helia after acting in the role since mid-2025.
Felicity Hughes has been appointed CFO with Develop Global, following Ben McKinnon’s resignation.
Ian Rowe has been appointed interim CFO with IGO, with the Board entrusting him to steer the business through year-end. The move is earmarked as part of a deliberate succession process, built on his capabilities and experience within the business over the last five years. This move follows the departure of Johan van Vuuren who joined from the Middle East but didn’t quite settle in as had hoped.
THE HIGHBURY VIEW
The RBA's June pause was well telegraphed and largely irrelevant to what CFOs are actually managing right now; which is the cumulative effect of the moves that came before it. The lag is real, you don't feel three hikes on the day they're announced. You feel them in Q3 and Q4 when the refinancing lands, the capex projects stall, and the working capital conversation with the board gets uncomfortable.
The CFO appointments we're tracking reflect this reality. The pipeline is skewing toward businesses in transition, new PE holds needing financial infrastructure built from the ground up, and long-held portfolio companies now squarely in exit preparation mode.
WHATS KEEPING CFO’S UP AT NIGHT
Every debt facility conversation is live right now and CFOs who aren’t already stress-testing their 2027 maturities are behind. Pressure from PE sponsors to return capital is real, but the bid/ask gap hasn’t fully closed, leaving CFOs in portfolio businesses balancing two things in tension at once: run the business, and keep it sale-ready. And on AI, the question from the board has changed. It’s no longer “are you exploring it”, it’s “show us what it’s saved.” The window for vague answers has closed.
ON THE PITCH
Highbury is currently engaged across several active searches in PE-backed and high-growth private businesses across Australia. If you have a mandate in motion, or one approaching we'd welcome a conversation.
Published monthly by Rick Jacobson, Managing Partner with Highbury Executive Talent. A boutique CFO search firm built for private equity, venture capital and high-growth mid-market businesses across Australia.
Careers transformed. Value created for investors. This is Highbury's arena.
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