A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
BNY Mellon confirms Australian country head
(Pictured: Phil Filippelis)
BNY Mellon Investment Management has appointed its new Australia country head and director, institutional distribution, to replace Bruce Murphy, who moved to one of the firm’s affiliated managers late last year.
The new country head, Phil Filippelis, is based in Sydney and reports to the BNY Mellon IM regional head, Mark Speciale, in Singapore. He started last week.
Fileppelis joined from the US alternatives manager Angelo, Gordon & Co, where he was the Australian representative for the past four years. Prior to that he was head of institutional business for Asia Pacific at Society General and its subsidiary TCW (formerly Trust Company of the West) for about eight years. Societe Generale bought a controlling interest in TCW in 2001 but sold it back to management and investors in a leveraged buyout in 2012.
As previously reported, Murphy has moved to the active currency specialist Insight Pareto, which has had a long history in Australia through the former Pareto Partners.
Insight Pareto is the result of a merger between Insight Investments of the UK – which specializes in liability driven investment for defined benefit funds, fixed interest and absolute returns strategies – and the smaller currency specialist Pareto Partners, also based in the UK. Both were BNY Mellon affiliates prior to their merger.
