FSC conference diners leave big charitable tip

Proving that the financial services industry indeed has a heart, delegates kicked in more than $240,000 for charity at last Thursday’s Financial Services Council (FSC) Industry Excellence Awards Dinner.

The FSC’s two community partners, the Inspire Foundation and the Schizophrenia Research Institute, will benefit from the money raised via individual and corporate pledges, and a raffle.

At the same dinner, the Industry Excellence Awards recognised the value added to the financial services industry.

According to Brogden, these “outstanding individuals are acknowledged for exceptional achievement on projects that greatly assist the industry and its underlying investors, for contributions to debate and for the formulation of industry positions and principles in a substantive and significant manner”.

The winners of the 2010 Industry Excellence Awards were:

Nigel McCammon, Colonial First State, general manager, client services

Megan Beer, head of finance, insurance, MLC Limited

Jeremy Duffield, Vanguard Investments Australia Limited, chairman & managing director Asia-Pacific

 

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AustralianSuper’s call for leverage is bold but unnecessary

AustralianSuper's chief liquidity officer Chandu Bhindi has publicly proposed the idea of allowing some super funds to directly use leverage, enabling them to better manage liquidity requirements in crisis situations rather than being forced to sell assets at stressed prices. While the idea has some merits, overall it is not necessary and could increase system risk.

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