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.
BMO builds out Australian presence
BMO Global Asset Management has recruited Harry Page from Rainmaker Information as the Sydney-based assistant v.p. for intermediary sales, primarily focused on two of the firm’s subsidiaries, Pyrford International and LGM Investments.
This will allow director Michael Angwin, who has been at BMO Global Asset Management for six years, to focus more attention on the institutional market in Australia and New Zealand while continuing to oversee both wholesale and institutional distribution channels.
Page spent three years as a business development manager at Rainmaker Information, the publishing and events business, where he was BMO’s account manager. He is co-founder Chris Page’s son.
The gap in Sydney opened up following the move this year by Jonathan Goll, who focused on institutional, to family office Trawalla Capital. Ravi Sriskandarajah, who started BMO GAM’s Sydney office in 2013 and recruited Angwin, was promoted to head of the business for APAC based in Hong Kong two years later, with Angwin still reporting to him from Sydney. Ravi, who also became chief executive of LGM, left the firm this year, in June, to join QIC in his native Queensland as executive director, client solutions and capital.
Angwin now reports to June Lui, the head of APAC for BMO and the lead portfolio manager for Greater China at LGM. Meanwhile LGM’s main strategy emphasis for Page is its Global Emerging Markets Fund and Pyrford International’s main emphasis is its Global Absolute Return Fund. The Pyrford Global Equity strategy also picked up a big institutional mandate in Australia – for about $200 million – earlier this year.
– G.B.
