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.
Northern, JP Morgan name new chiefs
Madeleine Senior
Two of the largest securities servicing firms in the region, JP Morgan and Northern Trust, have new heads of their Australian and New Zealand businesses following reshuffles announced in the past few days. Both are experienced insiders at their respective firms.
JP Morgan has appointed Nadia Schiavon as head of custody and fund services for Australia and New Zealand, replacing Henry Capra in the role. Capra, who will be leaving the business, joined JP Morgan in the position in 2013 after a three-year stint as chief operating officer at BlackRock Australia.
Before joining JP Morgan in 2011 as head of treasury services, Schiavon served in various senior roles at Citi over 23 years.
Across at Northern Trust, Rohan Singh is to move back to Singapore after four years as head of Australia and New Zealand for both asset servicing and asset management. He will be replaced by Madeleine Senior, who has worked at Northern Trust since 1995. Senior was head of business development for Northern Trust’s asset servicing business in Europe, Middle East and Africa (EMEA) and before that was managing director of the Nordic region.
Singh, who oversaw a period of rapid growth in new business for Northern’s asset servicing in Australia during his time in Melbourne, becomes head of Singapore and SE Asia business, still for both asset servicing and asset management. He had previously headed up asset servicing sales in Singapore before moving to Australia in 2011.
Northern recently set up a specialist asset management marketing and client service team in Melbourne under senior vice president institutional business and strategy Bert Rebelo.
