Investment Team 2018-08-02T11:25:04+00:00

The Armytage Team

Armytage has a highly skilled and experienced team with proven investment management capabilities, and our success has been built on the strength and passion of our people. Our team of highly experienced business and investment professionals come from a variety of industries, including funds management, investment banking, stock broking, science and finance, providing the depth of skill and knowledge required to build and operate a high-performing investment management firm. This unique blend of experience and ability also promotes insightful analysis and debate among the investment team, bringing a high degree of rigour to Armytage’s fundamental research driven investment process.

Lee IaFraté




  • Founding Chairman of Armytage Private
  • Responsible for portfolio management of the Armytage IMA Service, sector & stock analysis, as well as equity and option dealing
  • A Member of the Industry Research and Advisory Committee
  • Founder and former Chairman of Treasury Group
  • Founder & Former Director of AVFM Ltd/Prime Financial Group
  • Founder & Former Chairman of Easton Investments Ltd

Founding Chairman of Armytage Private

Responsible for portfolio management of the Armytage IMA Service, sector & stock analysis, as well as equity and option dealing

A Member of the Industry Research and Advisory Committee

Founder and former Chairman of Treasury Group

Founder & Former Director of AVFM Ltd/Prime Financial Group

Founder & Former Chairman of Easton Investments Ltd

Lee has been in the financial industry for over 30 years, with broad experience ranging from stock broking and funds management to principal lecturer at the Securities Institute of Australia. Lee is the Executive Chairman of Armytage.

In 2009 till 2013, Lee was the founder and chairman of Easton Investments Ltd; a listed company also specialising in financial services. Lee was also the founder and chairman of Treasury Group Limited (ASX: TRG) from 1997 until 2006. TRG established a number of boutique funds management businesses, which it supported with finance and administrative assistance, and later listed on the ASX. During Lee’s tenure at TRG, funds under management grew from a minor base to a peak of over $15 billion. Lee was also responsible for establishing and developing AVFM Limited with a diversified financial services focus, as well as boutique fund manager Armytage Private where Lee is Executive Chairman. Armytage Private has been operating since 1995.

Prior to establishing these companies, Lee was a stockbroker at Tolhurst Noall and McKinley Wilson with responsibilities spanning retail and wholesale funds management, securities operations, corporate restructuring, capital raisings and mergers and acquisitions. Lee has also provided advice on corporate governance and strategic planning issues to a number of institutions.

Bradley King


Portfolio Manager

B.Bus (Ec&Fin), SA FIN

Responsible for portfolio management, stock & sector analysis, and macroeconomic strategy

A Member of the Industry Research and Advisory Committee

Previously held positions in wealth management, stock broking & portfolio management

Formerly with Tolhurst Noall, before joining Armytage in 2003

Bradley has over 13 years experience in the financial services industry, working in a variety of roles in funds / portfolio management, company analysis, stock broking, wealth services and administration.

Bradley commenced his career in 2001 with stockbroking firm William Noall in settlements and administration services. Upon merging with D & D Tolhurst, he gained valuable experience in research sales and equity market dealing operations.

In May 2003, Bradley joined Armytage to oversee client portfolio construction, client management and trade execution. Today he is responsible for company research and analysis across multiple sectors, managing the business’ high net worth discretionary managed accounts, derivatives strategy and overseeing securities trading.

Bradley has an Economic and Finance degree from RMIT and has studied Business Globalisation at Maryland University in Washington DC (USA) and European Finance and Trade at Cologne University (Germany).

David Stevens

Head of Global Strategies

David has been CEO and CIO of two leading Australian Fund Management Companies.

From 1991 to 1998 he was Chief Executive at HSBC Asset Management Australia Limited. He was instrumental in growing HSBC ’s funds under management in Australia from $700 million to $6.5 billion.

David founded Contango Asset Management Ltd in 1998. At Contango David grew Funds Under Management to $2.3 billion, David sold his ownership in 2013. As Head of Global Strategies Management at Armytage Private, David will develop these relationships further on behalf of Australian and Chinese investors.

Alex Hay

Independent Director of Armytage Private

Director of Institutional Sales at Baillieu Holst

B.Comm, SF FIN

A Member of the Industry Research and Advisory Committee

Company strategy and Director duties

Alex joined Armytage in 2012 as an Independent Director.

Alex has extensive experience working in financial and equity markets at Baillieu Holst since 1993. He worked as a Research Analyst before joining the sales desk. He has formerly worked as the Head of both the Retail and Institutional Sales Desk.

Alex was also a former Chair of the Finance Committee. of the Shelford Board of Governors between 2009 to 2012.

Julian Mitchell


Citadel Fund Managers Pty Ltd.

B.Bus, Hons

Responsible for Citadel Fund Managers IMA accounts, *Australian New Horizons Fund 

A Member of Armytage Industry Research and Advisory Committee

Julian was a founder and Director of DMP Asset Management and its antecedents (JM Financial Group and Lowell Asset Management) and he worked there for 25 years. During this time he was the Investment Director and led a team of fund managers which had grown to 5 by 2015 He was ultimately responsible for the performance of client funds. He was also a Responsible Officer of DMP.

Prior to setting up DMP and its antecedents, Julian worked for a large American bank in both London and New York where he worked  in variety of roles including  as a stock research analyst and in the investment banking division.

Julian graduated with a BA(Hons) from Melbourne University and his interests include; stocks, history, the share market and equites (and the share market).

Patrick Trindade

Portfolio Manager


Responsible for portfolio management, stock & sector analysis, and macroeconomic strategy

A Member of the Industry Research and Advisory Committee

Patrick Trindade has over 13 years’ experience in the finance sector, including the last four years as Head of Private Wealth Melbourne with the Phillip Capital Financial Group. Previously to this he spent 3 years as the Head of the Small Resource Desk for a leading Australian stockbroking firm.

Patrick specializes in advising both High Net Worth and Institutional  clients in all aspects of  equities, cash investments, derivatives and managed  investment schemes, specializing in portfolio management and asset allocation

Patrick is an accredited securities dealer in Australian and international equities, managed funds, fixed interest, margin lending, exchange traded options, FX and superannuation products.

In addition to these industry qualifications he also holds a  bachelor of Commerce from Deakin University  as well as being ASX level 1 & 2 options accredited.

Patrick is also a regular contributor to  a number of  national publications including the Age and the Australian as well contributing on a regular basis to several prominent  on-line investor forums.

Residing in Melbourne with his wife, Patrick’s hobbies include golf, thoroughbred racing, travel and volunteer charity work.

Olivia Setchell

Portfolio Manager

Olivia manages several high net worth family accounts and is solely responsible for the investment portfolio of listed assets in Australia and International markets.

Olivia joined the Armytage team as a portfolio manager based in Sydney, she was initially a dealer at 452 which gave her a good foundation in understanding the market and key stock drivers.

Chris Newman

Member of the investment Committee

Equity Research

A member of the Macro Economic Strategy Committee

Austin Ngo

Accounts Manager APA

Austin graduated from The University of Western Australia, majoring in Accounting and Corporate Finance. He is currently undergoing his CPA study with a focus on Financial Reporting.

Austin manages Armytage financial accounts and is also a member of the investment and research team. His focus is on quantitative analysis using software such as Bloomberg and IRESS.

Austin has previously worked in Public Practice firms with specialisation in Tax Consulting and Financial Accounting.

Hannah Nguyen


Hannah is the newest member of the team, she has recently graduated from a Masters in Accounting at Monash University. Hannah has had international experience in the banking sector and is responsible for the companies accounting and administration.

Sara Acar

Marketing Manager

B. Com (Fin&Mark)

Sara is a Commerce Graduate from The University of Melbourne with majors in Finance and Marketing. Her role at Armytage includes coordinating marketing campaigns, market and portfolio analysis, client relationship management for our wholesale and high net worth investors, as well overall responsibility for brand management and corporate identity.

Sara has previously worked in retail banking at the Commonwealth Bank and in project marketing in the Real Estate industry.