Advice regtech firm Fourth Line has purchased the core intellectual property (IP) of defunct software company TIQK, including artificial intelligence (AI) and natural language processing (NLP) technologies. The acquired assets include a full-stack technology platform that incorporates a suite of micro-application software specific to advice assurance, as well as custom NLP and AI code, AI … Read more
Yarra Capital Management has appointed Jessica Ren as investment manager of its fixed-income team. Ren will report to co-head of Australian fixed income Darren Langer to support the management of the firm’s fixed income and cash portfolios, with a focus on macro, rates, and sector allocation matters. Ren previously worked as a rates strategist at … Read more
Vision Super and Active Super will merge to create a $27 billion fund with 170,000 member accounts, and a broader geographic presence across NSW and Victoria. Vision Super CEO Stephen Rowe has been appointed CEO of the merged fund. Active Super CEO Phil Stockwell will depart, and deputy CEO Donna Heffernan will serve as acting … Read more
Technology company New Quantum Holding has completed stage one of its 80 per cent acquisition of Morrison Securities from ASX-listed licensee Sequoia Financial Group. The remaining 29.9 per cent of the $40.5 million deal will be completed on or before 31 August 2023. The deal continues to be funded by Beaconsfield Capital, a London-and-Boston-based technology … Read more
Super funds can lift financial literacy and make the user experience more interesting for their members in order to improve engagement.
The Commonwealth Superannuation Corp will increase its cyber security budget by 22 per cent in FY2024 after the cyber attacks on Optus, Medibank, and Latitude Financial Services, according to CSC head of security Daminda Kumara.
NGS Super has appointed acting CEO Natalie Previtera to the role permanently after a national recruitment process. She was previously the fund’s chief risk and governance officer before taking on the acting CEO role nine months ago. Previtera is also a solicitor and a fellow of the Governance Institute of Australia.
Diversified financial services firm MA Financial Group has appointed global asset management veteran Anthony Habis as managing director, as well as the head of real estate partnerships in its asset management division. Habis will join MA Financial in mid-June from Bank of New York Mellon, where he was managing director and global head of client … Read more
Industry super fund-owned IFM Investors and ISPT are considering merging at the behest of their common shareholders, the fund managers said in a joint statement on Friday as asset owners look to cut management fees amid lower returns.
The corporate regulator has issued first of its kind stop orders against a superannuation product and a CFD product for deficiencies in their Target Market Determinations. Spaceship Capital The corporate regulator has issued stop orders on three managed funds and one superannuation product promoted by Spaceship Capital. In a media release on Friday morning, ASIC … Read more
Former High Court justice Kenneth Hayne has identified four key things organisations should consider to help them avoid repeating the issues that caused such an undermining of trust in financial services. The comments from the former royal commissioner come amid a strenuous debate about the Quality of Advice Review and the argument it may bring back conflicted advice models.
Industry super funds CareSuper and Spirit Super will merge in late 2024, creating a combined fund with more than 500,000 members and almost $50 billion in Funds Under Management.
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