Howard Rosario, the chief executive of Westscheme, has been elected chair of the Fund Executives Association Ltd (FEAL), following the retirement from the board of Brett Westbrook, former chief executive of Future Plus.
Westbrook flagged his intention to step down from FEAL after resigning from Future Plus, owned by the NSW Local Government and Energy Industries Superannuation Scheme, in July. He has not yet announced a new position in the industry, but is thought to be considering positions with service provider organisations rather than another super fund. FEAL members have also elected three new directors: Damian Hill, the chief executive of REST; Colin McGuinness, the chief executive of NGS Super; and Paul Watson, the deputy executive director of MTAA Superannuation Fund. Joe Farrugia, the secretary of the Catholic Superannuation Fund in Victoria, remains deputy chair. Terry McCredden, of Telstra Super, has also retired from the board. The remaining directors are: Michael Dwyer (First State Super), David Elia (HOSTPLUS) and Frances Magill (Statewide). Lorraine Berends, the Australian representative for Marvin & Palmer Associates, is an adviser to the FEAL board.
05/12/2006
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Investments
Some investors are “missing the point” of geopolitical risks by equating them to the disruptions from conflicts and wars, according to GIC chief economist Prakash Kannan, but in reality, geopolitical risk is no longer episodic or peripheral. This means investors need to think harder about inflation and country composition in their portfolio.
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