As Wingate embarks on its next chapter, we sat down with our new Managing Director, Nick Jacobson, to learn more about his journey, leadership philosophy, and vision for Wingate.
A Unique Path to Private Capital
Nick Jacobson’s journey to private capital was anything but conventional. Born in Johannesburg, South Africa, he began his career as an aspiring lawyer. During his clerkship at a leading commercial law firm, he spent his weekends advocating for anti-apartheid detainees, leading to some issues with authorities. After completing his articles, he realised that his prospects in apartheid-era South Africa were limited.
Arriving in Sydney in early 1990 at age 25 with his meagre savings and a suitcase, he leveraged his university studies in accounting and tax to land a role at Deloitte in Corporate Advisory, launching his career in finance.
Over the next three decades, he built a distinguished career in investment banking, holding senior roles at global institutions, including Deutsche Bank and Citi in London and at Goldman Sachs in Australia. A key driver throughout his career has been his interest in commercial real estate financing, a sector that, for him, blends the tangible with the intangible.
“You see companies and their projects evolve and come to life, and there is a real community impact, especially in assets like apartment buildings and shopping centres. There's always a human element, and it is actually quite fulfilling to be a part of something enduring that you help create,” he says.
Mentorship and Global Experience
Throughout his career, Jacobson benefited from mentorship, particularly from the late John Uhrig, former chairman of Westpac and Santos.
“He took me under his wing when I was a young banker and taught me about Australia’s business culture because I had no reference points. It was my first real mentoring relationship at that level, and it had a profound impact on me,” Jacobson recalls.
Returning to Australia in 2009 after working in London for 14 years, including with Deutsche Bank and Citi, he spent seven years at Goldman Sachs in Sydney, where he co-headed investment banking services and chaired the real estate sector team for Australia and New Zealand. There, he learned the power of strategic thinking and planning.
“Some of my colleagues at Goldman Sachs were very influential with their strategic thinking, not exactly seeing around corners, but having detailed game plans. So that made me adopt the approach: ‘Have you got a game plan? What is your strategy? What is your plan B?’ Contingency planning is incredibly important in business because things change, and you don't always have the canvas that you expect,” he says.
After leaving investment banking, he co-founded and led CapStra, a boutique commercial real estate private credit and advisory firm.
“It was the first time working for myself, and I wanted to build a business where everyone had skin in the game. All partners received equity from day one, and when Wingate acquired CapStra, they all shared in that success,” he says.
“The relationship piece is fundamental. Agility is important in a small business, but if you've got no relationships, you've got no business. Everybody had to go out and engage directly with clients. The hands-on, roll-up-your-sleeves approach to networking was a very important factor in CapStra’s success.”
Vision for Wingate
Now, as Managing Director of Wingate, Jacobson believes the firm’s success lies in its inclusive corporate culture, which balances top-down leadership with bottom-up innovation. His connection to Wingate founder Farrel Meltzer runs deep; they first met at a university in South Africa decades ago.
Drawing on his experience at CapStra, Jacobson emphasises the value of relationships, agility, and client partnership.
“At the end of the day, we are a world-class service business, not just a funding partner. Our relationships are our greatest strength, and our success is built on ensuring our clients’ success.”
As Wingate and its partnership with CapitaLand Investment (CLI) evolves, Jacobson sees nearly limitless opportunities for the business.
“In a business like this, which is constantly evolving, the relentless pursuit of innovation is critical. If you’re not thinking about how your approach could become redundant, you’re not pushing hard enough,” he says.