The Exchange by EW&L Private Wealth

Craig Emanuel, Tim Whybourne, Ryan Loehr.

As advisors to successful families, we often draw upon some of the best minds in the country. We believe, that by exchanging ideas, we can deliver better advice and better outcomes for the families we work for. Now, we are inviting you on this journey. In this podcast, we interview some of the country's best investment managers, business advisors, bankers and founders to share their insights. Our hope is that with better information, comes better decisions, helping you to achieve more financially. 

  1. 3D AGO

    The Investment Case for Bitcoin: How Monochrome is Democratising Access with Grayson McLeod (Monochrome)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Tim Whybourne sits down with Grayson McLeod, Chief Operating Officer at Monochrome, to discuss everything from why we need to think more deeply about the demand for Bitcoin (BTC), as the Australian economy does not necessarily present a need for us to invest in BTC, why Bitcoin is likely to move higher over the coming years, and the innovations that Monochrome is making to make it easier and more functional to invest into BTC. In his role, Grayson oversees the day-to-day operations of the firm’s exchange-traded funds. His focus spans the end-to-end mechanics of the products, including trading, custody, market maker oversight and managing the in-kind application and redemption process for direct Bitcoin transfers. With eight years of experience working in the Bitcoin space, Grayson brings hands-on insight into the operational challenges of running a regulated crypto investment product. He plays a key role in ensuring Monochrome’s products function seamlessly behind the scenes, bridging the gap between on-chain assets and traditional markets. Monochrome Disclaimer: The matters discussed in this episode are general in nature and do not take into account any person’s individual objectives. Past performance is not indicative of future performance.  No representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented.  Please review the PDS and TMD (available at https://monochrome.au) and consult a financial adviser before deciding whether to acquire an interest in IBTC or IETH. Noting that investing in bitcoin or ethereum is volatile and extremely high risk. Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    46 min
  2. JAN 26

    The World Is Your Oyster: What It Really Takes to Build a Business with Nathan Denchman (ProcurePro)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Mitch Finnen sits down with Nathan Denchman, Co-Founder and CTO of ProcurePro, to unpack the realities of life as a founder. Nathan shares his journey from growing up in regional Queensland to building and pivoting multiple start-ups, including the difficult decision to move on from an early legal-tech venture that didn’t survive COVID. The conversation explores the emotional highs and lows of founding a business, the freedom and uncertainty of having no clear path laid out, and what it takes to push through when the answers aren’t obvious. They discuss how ProcurePro emerged from that period of disruption, why identifying the right problem matters more than the original idea, and how disciplined execution, strong co-founder alignment, and resilient systems have underpinned the company’s growth. Nathan also reflects on the role of AI in construction technology, scaling teams responsibly, and how becoming a father has reshaped his perspective on leadership and time. For founders, operators, and anyone considering the leap into building something of their own, this episode offers an honest look at the freedom, pressure, and opportunity that come with the founder journey, and why adaptability and execution ultimately define success. Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    32 min
  3. JAN 23

    What It Takes to Build a Multi-Cycle Investment Firm: Lessons from Julian Biggins (MA Financial)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Ryan Loehr sits down with Julian Biggins, Joint Chief Executive Officer and Co-Founder of MA Financial Group, to explore how one of Australia’s leading alternative asset managers has built scale across market cycles. Julian reflects on founding MA Financial in the wake of the global financial crisis, the evolution of the firm’s real estate and credit platforms, and how MA has expanded across investment banking, asset management, and lending. He shares insights into why core real assets - including retail, office, and operating real estate - continue to play a critical role in diversified portfolios, and how MA identifies opportunities where others see complexity. The conversation also covers the firm’s recent investments across operating assets, including hospitality and specialised real estate, the rationale behind deploying capital counter-cyclically, and what institutional and private investors should consider as markets recalibrate. For investors interested in real assets, capital cycles, and building resilient investment platforms, this episode offers a thoughtful perspective from one of Australia’s most experienced alternative investment leaders. Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    41 min
  4. JAN 12

    Macro, Liquidity and the Digital Asset Shift: A Deep Dive with Jamie Coutts (Real Vision)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Tim Whybourne sits down with Jamie Coutts, Chief Crypto Analyst at Real Vision, for a wide-ranging conversation on the forces reshaping global markets and the digital asset landscape. Jamie shares his journey from traditional finance to Bloomberg Intelligence and Real Vision, explaining how macroeconomics, liquidity cycles, and technological innovation now intersect to drive market behaviour. He breaks down the “great debasement,” the role of debt and liquidity in asset performance, and why digital assets increasingly sit at the crossroads of macro, technology, and monetary policy. The discussion explores everything from institutional adoption and real-world asset tokenisation to the rise of AI agents, blockchain infrastructure, and the frameworks Jamie uses - from on-chain fundamentals to Metcalfe’s Law - to analyse the space. Whether you’re curious about digital assets, interested in how macro trends shape modern portfolios, or looking to understand the next wave of financial innovation, this episode offers a grounded, research-driven perspective from one of the industry’s leading analysts. Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    49 min
  5. JAN 5

    Positioning for Growth in a Changing Real Estate Cycle with Rob Percy (Cromwell)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Ryan Loehr sits down with Rob Percy, Chief Investment Officer of Cromwell Property Group, to unpack how one of Australia’s most established real estate investment managers is reshaping its strategy for the next cycle. With more than 25 years’ experience across global capital markets, Rob offers a candid look at Cromwell’s transition to a more focused, capital-light investment platform following the sale of its European business. He explains how the group is thinking about capital allocation, partnerships - including Brookfield’s recent cornerstone investment - and the structural shifts redefining office, data centres, life sciences, and other emerging real asset sectors. Rob also discusses how Cromwell is maintaining sector-leading office occupancy, what institutional tenants value most today, the growing importance of ESG and decarbonisation, and where he sees opportunity - and risk - as the next property cycle takes shape. For investors, advisers, and anyone watching the future of commercial real estate, this episode offers a clear, grounded view from one of the industry’s most experienced CIOs. Continue the real assets and property investing conversation and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.  Download here.  Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    42 min
  6. 12/15/2025

    What Really Drives Australia’s Commercial Property Market with Bruce Baker (CBRE)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Ryan Loehr sits down with Bruce Baker, Senior Managing Director – Queensland at CBRE, to unpack what’s really driving Australia’s commercial property market and where discerning investors are finding opportunity in the current cycle. With more than three decades of experience spanning capital markets, funds management, and real estate services, Bruce shares his perspective on how ownership structures, valuation trends, and capital flows have evolved and why Brisbane and South-East Queensland are emerging as markets to watch. From shifting investor behaviour and supply-demand dynamics to the impact of infrastructure, migration, and rising construction costs, Bruce offers a clear, data-driven view of where we are in the cycle and what’s next for office, retail, and industrial assets. Whether you’re a private investor, family office, or adviser, this episode delivers valuable context for navigating property today and positioning for the opportunities ahead. Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.  Download here.  Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    57 min
  7. 12/08/2025

    Positioning for the Next Property Cycle: Creating Value in a Changing Market with Jason Huljich (Centuria Capital)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Ryan Loehr sits down with Jason Huljich, Joint CEO of Centuria Capital Group, to explore how one of Australia’s leading real-asset managers is positioning for the next property cycle. With more than $20 billion in assets under management and nearly three decades of experience across office, industrial, healthcare, agriculture, and alternative real assets, Jason offers a data-driven view of what’s really shifting beneath the surface of Australia’s property markets. From capital flows and valuation resets to tenant behaviour, liquidity design, and the rise of long-dated, service-led real estate, Jason breaks down where disciplined investors should be leaning in — and where they should show restraint. He also shares the frameworks Centuria uses to assess new verticals, maintain investment discipline at scale, and create value through active management, covenant quality, and ESG integration. Whether you’re a family office, private investor, or an adviser navigating this moment in the cycle, this conversation delivers practical insight into where opportunities are emerging and how leading managers are preparing for the decade ahead. Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.  Download here.  Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    45 min
  8. 12/01/2025

    Why Boring is Beautiful: Venture Capital Lessons with Matthew Browne (Black Nova)

    Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, EW&L Associate Adviser, Charles Troian, sits down with Matthew Browne, Founder and Managing Partner of Black Nova Venture Capital, to explore the evolution of Australia’s start-up ecosystem and what it really takes to build - and back - world-class technology companies. From launching his first business at 13 to founding and exiting two successful enterprise software companies (including Y Combinator–backed Whispli), Matthew shares lessons learned from both sides of the venture table. He unpacks what separates resilient founders from the rest, why “boring” B2B software often outperforms hype-driven tech, and how Australia’s venture market has matured into one of the most efficient ecosystems in the world. The conversation dives deep into Black Nova’s investment philosophy - a by founders, for founders model - and the firm’s focus on mission-critical, enterprise-grade software with strong fundamentals and global potential. Matthew also reflects on the future of AI, capital flows, and the importance of reinvesting in Australia’s innovation economy. Whether you’re an investor, founder, or adviser, this episode offers a rare look inside the mindset of one of Australia’s most disciplined venture capitalists, and what it takes to identify the next generation of enduring businesses. Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

    50 min

About

As advisors to successful families, we often draw upon some of the best minds in the country. We believe, that by exchanging ideas, we can deliver better advice and better outcomes for the families we work for. Now, we are inviting you on this journey. In this podcast, we interview some of the country's best investment managers, business advisors, bankers and founders to share their insights. Our hope is that with better information, comes better decisions, helping you to achieve more financially. 

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