News

On the first weekend of December, Citi Securities Services went live on the last of 26 former RBC Treasury & Investor Services clients, putting an exclamation point behind one of the biggest and most complex of backoffice transitions. The RBC clients, predominantly fund managers and wealth platforms, are adding about $100 billion in assets under…

Michael Lebbon wants to create carbon data that’s as ubiquitous as Uber. But he believes that too much consolidation in the still nascent industry risks creating a dangerous game of follow the leader. “I’ve never wanted to work in pure finance; it didn’t sit well with me,” says Michael Lebbon, CEO of carbon data startup…

Third-party marketer 3PD has joined up with an ESG specialist multi-affiliate and distribution company based in in London, Haven Green. 3PD, which was launched last year by Rob Harrison and Steve Larkin, two experienced funds management marketers, has formed an alliance to represent Haven Green’s managers, which include pure-play ESG specialists, in Australia and New…

Manufacturers and super funds alike need to do more on the burning issue of retirement products. So far, they’ve failed to innovate. A full generation of superannuants are about to enter the decumulation phase, with little idea about what to do with the nestegg they’ve built up. And despite the new retirement income covenant, superannuation…

BNP Paribas is to lose its head of securities services for Australia and New Zealand and State Street is losing three senior executives in unrelated developments which emerged last week. David Braga, the chief executive of BNP Paribas Securities Services, Australasia, has resigned and will leave the organisation at Christmas. He is currently continuing at…

One clear message from this month’s COP26 climate meeting is that big investors – especially Australian investors – will not be waiting for politicians to lead the way with a response to the crisis. Institutional investors are now “moving to the point of implementation” of their sustainability strategies, according to global manager Ninety One, with…

The Australian financial regulator has urged institutional investors trading on the ASX to better prepare for future market blackouts in the wake of a meltdown on the exchange last November. In a new report charting a series of ASX operational incidents during the week starting November 16 last year, ASIC (chaired by Joe Longo, pictured)…

There has been a growing feeling among investors that sustainability is good – certainly not bad – for returns. Now, following the latest report by Sustainable Platform, there should be no further argument. The analysis, which includes rankings of the top 1,000 performing companies globally, as well as the bottom 1,000, shows that on a…

Ian Silk, AustralianSuper’s powerhouse former chief executive officer, will join KPMG part-time as the firm broadens its focus on ESG solutions. Ian Silk will join KPMG as a special advisor, working on ESG issues as part of the firm’s “reinvigorated plans to help clients embrace the greater focus on ESG responsibilities” as well as on…

Boutique fund manager Pella has nabbed a trio of high-profile names for its advisory board as the ex-Pengana crew shop their proposition to the institutional market. Debbie Alliston, former chief investment officer for AMP Capital’s Multi-Asset Group and head of portfolio management, has joined the advisory board of Pella Funds Management. Alliston was with AMP…

It’s all coming up roses for the asset class, which is set to benefit from rising inflation and global spending programs. A boom delayed is still a boom. The delta variant stymied reopening plans and the fiscal stimulus expected to accompany them, but listed infrastructure investors will breathe easier as government spending finally goes ahead….

In a positive sign for diversified global managers, the dual-listed Ninety One has reported a turnaround in fund flows and a big increase in profits following strong returns in the past six months. The company said in London last week (November 16) that net inflows of £3.9 billion sterling (A$7.2 billion), taking total assets under…