Banker and marketer join the FPA board

The Financial Planning Association (FPA) has named the two independent directors who will be replacing the outgoing Kathryn Greiner and David Elsum.

Investment banker, Bruce Foy, and communications/marketing consultant, Rob Gerrand, will take up their new roles when the FPA board meets for the first time this year in February. Corinna Dieters, FPA chair, said the two independent directors were chosen because of the complementary skills they bring to the board. “FPA’s corporate governance and strategic management will be substantially strengthened by the combination of experience brought to us by Bruce and Rob,” Dieters said in a statement yesterday. However, the FPA has not released any details about its search for a new chief executive following the resignation of Kerrie Kelly, who is scheduled to finish up in March, six months shy of fulfilling her initial three-year contract. Kelly abandoned the FPA early to take up a position as executive director of the Insurance Council of Australia.

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As the Magnificent Seven fade, CFS looks further afield for returns

Colonial First State chief investment officer Jonathan Armitage says a shift away from reliance on US mega-cap tech stocks is reshaping portfolio resilience, with emerging markets, private debt and catastrophe bonds helping to drive returns across the portfolio.

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