Citing signals of economic transition and diversified benefits, Amundi recommends a significant portfolio allocation to gold following its +30 per cent surge since 2023. Investor Strategy News
Australia’s biggest super funds disagree on what the new Your Future, Your Super performance test should look like, but they both think the consequences for failure should be just as weighty – and apply to everybody equally.
Link hires from IBM for top super admin role
Link Group has appointed Dee McGrath as the new chief executive officer of Link Fund Administration, a role which has recently been filled by group chief executive, John McMurtrie, following the departure last year of Suzanne Holden.
The appointment is one of several that the company says underlines its commitment to its clients and technology-led strategy, while further enhancing its senior leadership capability. She will oversee Link Group’s administration of many of Australia’s biggest funds.
McGrath joins Link on June 3 from IBM, where she most recently held the role of managing partner, Global Business Services. She was responsible for the strategy, client relationships and business performance of IBM’s consulting and professional services business in Australia and New Zealand. Prior to IBM, she held senior roles at Visa, Hewlett Packard and NAB.
McMurtrie said last Friday, April 5, that McGrath’s background with major technology companies was very attractive given that “all our clients are looking to crack the nut around technology and the digital space for member services… She is used to dealing with clients to take them at that journey,” he said. McGrath will be based in Melbourne, where most of the big industry fund clients are also based.
Other recent hires include Rebecca Edwards, formerly with custodian State Street, who joins Paul Khoury, also formerly at State Street, in running the growing funds management administration business, which McMurtrie says will become increasingly global.
“It’s a follow the sun strategy,” he says. “We have a big business out of London and Dublin and we can use that as a hub.” Link also recently set up in Luxembourg. Assuming Brexit goes ahead, Dublin and Luxembourg will become crucial for fund managers in passporting funds through Europe.
The appointment follows the promotion of Paul Gardiner to run the new division of Operations, Technology & Innovation and the hiring of Nigel McCammon from Mercer as chief operations officer, Asia Pacific. He was head of Mercer’s fund administration, based in Wollongong.
– G.B.
