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.
Heitman expands sales effort
(pictured: James Gruver)
Global real estate manager Heitman has appointed James Gruver as managing director of global sales as part of a three-person expansion in its sales and marketing efforts. Gruver is a former head of BNY Mellon Asset Management in Australia from 2003-2009.
Heitman is headquartered in Chicago but has offices throughout Europe and Asia Pacific, including Melbourne. It has two large Australian clients. Gruver said he would be visiting Australia again within the next month or so.
Gruver left BNY Mellon back in the US, where he was promoted after his Australian stint, in 2013 to join Black River Asset Management in Minneapolis. Black River last year hived off three of its funds management units into separate staff-owned boutiques.
Apart from Gruver, Heitman has appointed Alan Purser, formerly senior vice president, client service and marketing, as head of global consultant relations and new recruit Tamara Solarich as senior vice president and director of global marketing and communications. All three positions report to Lewis Ingall, senior managing director and global head of client service and marketing.
Heitman is a listed company founded in 1996, with more than 50 per cent staff ownership. It has about US$34 billion under management. The firm manages both direct and listed property portfolios, including debt.
