Garry Charny is about 24 hours into his appointment to the Board of Racing NSW. Admittedly, it’s early days for his two-year tenure, but his mind is open and his expectations in check.
“I haven’t even been to a board meeting,” he said, chatting with TDN AusNZ on Wednesday afternoon. “My appointment literally commenced yesterday (Tuesday) so I’m still very much in those early learning stages.”
As much as Charny is new to Racing NSW, he’s a veteran of the board room generally.
His appointment this week comes off the back of a long career in the corporate environment, namely as the chairman of Centuria Capital, an ASX 200-listed investment manager, and as the managing director and founder of Wolseley Corporate, an Australian corporate advisory and investment house.
Garry Charny with one of his foals
These are heavy hitters in the financial industry. Centuria Capital has around $20.6 billion in assets under management, and Charny was elevated to its chairmanship in 2016. In an earlier life he was co-founder and chairman of the international media advisory firm Boost Media, and he was a practising barrister until 1995.
If these decorations weren’t enough, he was also an adjunct lecturer in law at the University of New South Wales.
“I’ve had a broad commercial background, no doubt about that,” Charny said. “But I’ve also been involved in the horse industry since 1985 when Betty Lane trained my first racehorse. It was horse called Rachel’s Chance that ran second as an odds-on favourite at Nowra.”
“I’ve had a broad commercial background, no doubt about that. But I’ve also been involved in the horse industry since 1985 when Betty Lane trained my first racehorse. It was horse called Rachel’s Chance that ran second as an odds-on favourite at Nowra.” - Garry Charny
Rachel’s Chance was by Lucky Chance, a son of Star Kingdom (Ire). She raced 11 times for a win, a second and a third, earning total winnings of $1190 on the track, which was enough to hook Garry Charny.
“I’ve been lucky enough to be involved in the industry on and off ever since,” he said. “What is it that Gerry Harvey always says to me, that I’ve become a racing tragic? I’ll happily put my hand up to that.”
Giving back
Charny’s bloodstock interests are in the shape of Belannah Stud, his company name for his portfolio of 17 or so breeding mares that he owns, or in which he owns a share.
He’s been involved in breeding for about 30 years, partnering with the likes of Duncan Grimley for just about that long, and all bar one of his mares (who’s in England) are based in Scone.
Belannah Stud is named after his daughters, Isabel and Hannah, one of whom is a lawyer in New York and the other helming a successful start-up business. Only one of his girls is into racing.
Garry Charny and Duncan Grimley
Charny lives in Sydney’s east and has been married for 30 years, and he’s a steady, successful and interesting character. He is bubbly about his appointment to the Board of Racing NSW, clearly grateful for an opportunity to delve deeper into the sport he loves.
“What can I bring to my appointment?” he said. “I think I’ve got a good depth of experience across a number of sectors, and luckily enough I’ve had a connection with the horse industry for a long time. Hopefully the Board will see that as an advantage.”
It’s not unusual for high achievers to matriculate into racing administration, but for Charny, the opportunity to join the Board was less about promotion and more about giving back.
“I’ll be candid,” he said. “When I turned 60, things had worked out pretty well in my life and I wanted to find ways to put something back into some areas. And since the horse industry, and the breeding industry, had always been close to my heart, I thought that would be a good opportunity to do so.
“When that opportunity came to put my name forward to the Board, I thought I’d like to do it because I wanted to give something back. That’s what it was about for me, personally.”
“When I turned 60, things had worked out pretty well in my life and I wanted to find ways to put something back into some areas. And since the horse industry, and the breeding industry, had always been close to my heart, I thought that would be a good opportunity to do so.” - Garry Charny
For Charny, his new appointment will spell a much broader involvement in the state’s racing picture, and he’s looking forward to that.
“I think my attention will be turned to a broader landscape,” he said. “I haven’t been actively involved in country racing, for example, other than having the odd horse race there. But country racing is a vital part of Racing NSW, so there are sectors like that that I’ll now be looking at.
“Also, there’s a whole lot of issues that Racing NSW deals with that I’ve never had to deal with, so yes, it will be a different focus for me professionally and personally.”
Charny isn’t new to racing administration. For the best part of a decade, he was on the Magic Millions advisory board, so he’s scripted in many of the things he’s likely to run into during his tenure.
Garry Charny with Frankel (GB) at Banstead Manor
He’s also looking forward to soaking up all aspects of what he’s likely to run into, and that is thanks to his general obsession with horses.
“I’ve really never seen things from the Racing NSW perspective as an overseer of the entire state’s industry,” he said. “Anything to do with thoroughbreds though, I enjoy, so I’m really looking forward to that opportunity to just put something back in.”
First day on the job
As things stand in New South Wales, Charny couldn’t have leaped onto the Board at a better time. Racing in the state is in good fettle and he knows it.
“Things are flying, but there are always things that can be improved upon," Charny said.
"There are always people with needs in the industry, from new stables to the Group racing issues, the pattern committee and so on. There are always issues to talk about.”
Sitting on the Board of Racing NSW will mean a monthly meeting for Charny. He says it’s not unlike any other statutory body or corporation where issues are brought up through management and discussed.
“The Board makes the high-level decisions about things like funds are allocated and where funds are allocated to,” Charny said. “How we progress things as a matter of principle, how we deal with the other states… these are all things that are handled by the Board.
“And then of course there’s getting to meet all the stakeholders, which in itself is a big job because that’s across all of New South Wales. I’ve probably been very Sydney-centric, just in my own personal interests, and now it’s going to be a far broader remit.”
Garry Charny, Ravi (stablehand) and Anthony Cummings with his Fastnet Rock filly Believe, who was third in the Australian Oaks in 2016
It’s a spectrum that Charny is looking forward to, especially in the shadows of a brand-new year. Just a day into his new role, he has a briefing folder on his desk that is awaiting his attention on what is basically his first day on the job.
“I’ve got a bit to learn about the day-to-day operations of Racing NSW,” he said. “But I will say this. This industry has given me so much pleasure over the years. Some of my best friends are in it, and I know I keep saying it, but to give something back is really important to me. It will be a lot of work but I don’t mind that.”
