News

(Pictured: Barry McInerney) Bank of Montreal’s asset management business, which opened a Sydney office in 2013, may well be the fastest growing fund management firm in the world. Barry McInerney, co-chief executive in charge of asset management outside Canada, outlined some of his plans for the region. BOM Global Asset Management has expanded its funds under…

(Pictured: Brian Keogh) Thomas Murray IDS, the specialist international custody consultant, has re-established a Melbourne office with the recruitment of two experienced executives formerly from NAB and will part company with Peter Katz, who has represented the firm for the past five years from his base in Wellington, New Zealand. Brian Keogh and Adam Zani will…

(Pictured: Jo Townsend) Jo Townsend, the general manager, investments, at REST will become the new chief executive of Funds SA after a search, replacing the CFO, John Piteo, who had been acting in the top job since Richard Smith retired in January. For REST, Townsend’s departure in April will be the second loss of a senior…

(Pictured: Peter Baker) Mercer Sentinel is looking to expand its capabilities in workflows among super funds and other clients, targeting inefficiencies between front, middle and back-office systems and procedures. Peter Baker, who joined the firm as Australia and New Zealand head late last year, has already recruited a senior consultant. Baker, who joined from BNP Paribas…

(Pictured: Warren Chant and Andrea West) Fees, retirement incomes and insurance are dominant issues for big super funds and other fiduciary investors. They are the themes backgrounding selection of the annual Chant West superannuation and pension fund award winners, to be presented at a black-tie dinner in Sydney on May 6. The third annual awards cover…

(Pictured: Dan Norman) In the world of fixed income, not since what is sometimes referred to as the ‘cult of equities’ got underway in the 1950s – thanks to Harry Markowitz’s Modern Portfolio Theory – has there been such demand and yet such limited supply of product. Everyone is searching for yield and everyone is wary…

(Pictured: Jonathan Green) The integration of back and middle-office functions at big super funds is having knock-on benefits, such as the reorientation for the fund operations management to also include implementation. And there are returns benefits. According to Jonathan Green, the general manager of investments at NSW Treasury Corporation, the new paradigm involves the recognition of…

(Pictured: Ashley Porter) The ‘value chain’ in funds management, currently worth about 100bps, will deflate by 70-90bps in the next five-10 years, according to Ashley Porter, the founder of the zero-fee SMSF admin company McLowd. He provided a shock-and-awe presentation to the industry on the Gold Coast last week. At the ‘My Platform Rules’ conference in…

(Pictured: Jason Clarke) Jason Clarke, the former managing director of the Lonsec Fiscal group and partner of Jeff Bresnahan in the development and expansion of the SuperRatings business, has joined administration company Recreo Financial Technologies as a director. He is known as a long-time critic of the service offerings of the big administration firms and system…

(Pictured: Paul Moore) Ben Skilbeck, a former investment banker with Merril Lynch and Credit Suisse, has become the new chief executive of Australian-based international manager PM Capital. This follows the departure of Chris Donohoe, the former chief executive, in December last. Skilbeck has started at PM Capital this month, most recently having worked at quant research…

(Pictured: Mavis Robertson) A lot has been written this past week since her untimely death, the result of complications from a fall. But Mavis Robertson’s early years, which defined her later career, are just as remarkable as her years in super, as a workers’ and women’s advocate. They are worth noting among all the tributes…

(Pictured: Matthew Brown) Matthew Brown, who has about 20 years experience in securities servicing, will replace Christine Bartlett as general manager of NAB Asset Servicing when she retires next month. Bartlett, who took on a non-executive directorship of property group Mirvac in December, has decided to pursue further such roles and depart NAB at the end…