The Australian arm of Unilever will outsource the management of its $250 million staff superannuation scheme to a major industry fund in April.
Vanguard recruits from head office for MD role
Vanguard Investments has appointed a new managing director for the role that the company’s Australian business founder and chairman, Jeremy Duffield, has been filling since late last year.
Wilshire walkout: Australia’s most popular private equity manager in turmoil
Wilshire Associates, the private markets consultant which also manages $3 billion locally in Australian and offshore private equity funds-of-funds, was rocked last week by several simultaneous resignations, including that of the founder of its Australian business.
Wilshire walkout: Australia's most popular private equity manager in turmoil
Wilshire Associates, the private markets consultant which also manages $3 billion locally in Australian and offshore private equity funds-of-funds, was rocked last week by several simultaneous resignations, including that of the founder of its Australian business.
Keeping the bastards honest
In an era when everyone hates banks more than ever, ME Bank is looking to capitalise on its heritage and ownership to build its position over the next couple of years. It may even be “keeping the bastards honest”, as the inimitable Don Chipp said in the lead-up to the 1980 Federal election.
Let’s face it: ME [Members Equity] is still a bank. But one of the good things about this bank is that it has a new chief executive who is committed to delivering the sort of services wanted by the members of the 35 industry funds which own it. ME Bank began, in 1994, as Super Members Home Loans, then half-owned by the then National Mutual (now AXA). It’s now being run, since last month, by a 21-yearveteran of another successful boutique bank, Bendigo and Adelaide Bank – Jamie McPhee.
Uni of Sydney endowment targets hedge funds
The University of Sydney endowment will invest directly in hedge funds for the first time, after its investment team identified some sufficiently skilled managers with newfound capacity.
Automated single-issue advisor claims savings for super funds
The cost of a single-issue piece of financial advice to a super fund member, which funds often subsidise, could be slashed 80 per cent by automating the answers to simple questions around investment options, contributions, insurance and retirement, the makers of a new system claim.
Already faced with its own million-dollar legal bills, MTAA Super has been hit with an order from the Federal Court to pay legal costs incurred by its former chairman, John Rickus, after unsuccessfully suing him. Telstra Super loses alternatives boss
Nicole Connolly, head of alternatives at Telstra Super, will leave the big corporate fund to take a senior consulting role. Backoffice champions: ACSA award winners for 2010 announced
The Australian Custodial Services Association (ACSA) has announced the winners of the 2010 ACSA Awards.
BNY Mellon AM restructures, sheds high-profile strategist
BNY Mellon Asset Management (Australia) has seen its two most senior executives after managing director Bruce Murphy depart.
