The near $100 billion construction industry fund has blundered into an ugly governance and administration debacle, and it’s unlikely that ASIC will let it off easy. Nor should it, with funds increasingly failing to provide their members with key services.
Your Future, Your Super makes it harder for funds to push deeper into some sustainable investment strategies, but has “counter-intuitively” resulted in funds looking to take a more complex approach to stewardship.
… as Parkes takes over as regional head of Investor Services sales
(pictured: Shaun Parkes)
Shaun Parkes, who joined J.P. Morgan in 2003 in London and who has headed up the firm’s Investor Client Management business in Asia ex-Japan since 2013, is replacing Laurence Bailey as head of Investor Services Sales for Asia Pacific at J.P. Morgan.
Bailey, a J. P. Morgan veteran of more than 30 years, announced his intention to retire late last year. This will take effect in the second quarter this year (see separate report).
Parkes, who was previously global head of depository receipt sales and client management, was promoted from J.P. Morgan in London in 2009 to take on the Hong-Kong-based Asia ex-Japan role.
Parkes also held a number of sales management and product roles in the clearance and collateral businesses from London, where he has actively assisted the development of these businesses in Asia.
Prior to joining J.P. Morgan, he held senior positions at Deutsche Bank and HSBC in a variety of roles including collateral and repo sales.
He said last week that the Asia Pacific region was the fastest growing in the world for securities services and J.P. Morgan had the largest securities servicing business in the region of the global custodian banks.
“It’s a big challenge to continue the role and influence of Laurence [Bailey] and my other predecessors, keeping up with the demands of this fast-paced and increasingly sophisticated part of the world,” Parkes said.
“We never rest on our laurels, though. We want to be the best at what we do, not just the biggest. We are increasingly harnessing all aspects and services of the J.P. Morgan group worldwide to help our clients also grow their businesses, protect their assets and members and enhance their returns.”
