Few would disagree that a strong regulator is required for a strong superannuation system. But APRA’s myopic focus on cost to members means its $70,000 Christmas party is unlikely to help its reputation.
Good investing requires real sacrifices, according to Oaktree’s Howard Marks, but you can’t expect to be compensated just for making them.
Clarke heading home as Mercer Pacific CIO
Russell Clarke, Mercer’s global CIO for “mainstream assets” is to return home to Melbourne as CIO for the Pacific, while his former boss in London, global CIO Andrew Kirton, has become head of Mercer Investments’ European business.
Mercer did not announce last week whether the two London-based CIO roles would be filled.
The Australian-based CIO role, which is effectively the position Clarke had before being moved to London in July 2011, became vacant with the resignation of Andrew Howard, who is joining the multi-affiliate manager Treasury Group as CIO – a new position.
In addition, David Stuart was appointed chief strategist for the multi-asset class diversified fund range in the Pacific market, extending his current dynamic asset allocation team leadership role. Current director of consulting Nick White’s responsibilities were expanded to cover strategic policy decisions for the Mercer fund suite in the Pacific market.
In the past two years Mercer’s global multi-asset funds under management has jumped from about US$44 billion to more than US$70 billion.
