Senior JPMorgan Investor Services relationship manager, Paul Coenraads, has left to perform a similar role at his long-time client, the Auscoal superannuation fund.
Coenraads worked at Commonwealth Custodial Services until its master custody business was sold to National Custodian Services in 2003, but Coenraads jumped to JPMorgan instead and took the fund then known as the Queensland Coal & Oil Shale Mining Industry Super Fund (QCOS) with him. QCOS merged with Newcastle-based Coal Super last year to form Auscoal. A JPMorgan spokesperson said a search was underway to replace Coenraads, who started at Auscoal on Monday last week.
19/09/2006
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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