Change at the top of Pillar

NSW Government-owned super member administrator, Pillar Administration, had a new chair from June 18.

The former director-general of the NSW Premier’s Department, Col Gellatly, took over from Bob Walker, who it’s understood had chaired the NSW Government-owned organisation since before it changed its name from SAC to Pillar in 2001. Pillar directors are appointed and removed at the behest of Pillar’s ‘shareholder’ ministers – currently Commerce Minister John Della Bosca and Treasurer Michael Costa. The chief executive of Pillar, Peter Cormack, was unavailable for comment at presstime.

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Geopolitical risks rewire asset allocation ‘operating system’: GIC

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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