Nicola Forrest-backed Coaxial has appointed Philippa Watson as chief executive, overseeing both its philanthropic and investment arms.
Nicola Forrest-backed Coaxial has appointed Philippa Watson as chief executive officer, overseeing both its philanthropic and investment arms.
The former banker will lead Coaxial Foundation and Coaxial Ventures, which houses Mrs Forrest's large holding of Fortescue shares.
Mrs Forrest – who regularly features in Business News’ Power 500 and Rich List – said Ms Watson’s appointment came at an important time.
“Philippa is a proven leader with a remarkable track record in transformation and impact,” Mrs Forrest said.
“Her strategic vision, operational excellence, and deep commitment to purpose-driven leadership will be critical as Coaxial accelerates its mission - connecting capital, changemakers, and communities to drive systemic change and unlock the potential of all Australians.
“Philippa’s leadership comes at a crucial time as Coaxial moves into delivery mode.
"With key initiatives like its first philanthropic program - Project Oasis - already underway, her expertise will be instrumental in advancing this work and further developing Coaxial’s impact investment strategy and programs to create new opportunities for those who need them most.”
Ms Watson – who has extensive experience in the banking and finance sectors – joins Coaxial following her tenure as chief executive of Ubank, a Sydney-headquartered digital platform which operates as a division of the National Australia Bank.
Additionally, Ms Watson is a director of Lifeline Australia.
On December 19 last year, Mrs Forrest purchased Fremantle’s Terminus Hotel, located on Pakenham Street, for $4.5 million from the state government.
At the time, a Coaxial spokesperson told Business News that the foundation planned to re-develop and reactivate the building, in order to benefit the local community.
Ms Watson's appointment comes a few months after Coaxial Foundation bolstered its board.
It appointed Julia Davison as chair last year, along with adding AFL executive Tanya Hosch to its board as a non-executive director.
Mrs Forrest continues as a director of Minderoo Foundation, which she established with former partner Andrew Forrest.
