Opening up early access to super for housing would have a negative effect on the balances of even those members that don’t dig into their savings, with funds forced to adopt more conservative investment strategies and hold more liquid assets.
The circa $88 billion industry fund for workers in health and community services reckons that alleviating the affordable housing crisis will boost its other investments by easing the cost of living and inflation.
Citi lures senior NAB executive to oversee HostPlus
Providing further evidence of the importance of winning HostPlus as its first industry super fund client, Citi Securities and Fund Services has recruited National Australia Bank’s head of sales and business development for asset servicing, Amy Diab. It is understood her main role will be to oversee the new relationship with HostPlus.
Diab will be based in Citi’s Melbourne office, where HostPlus is also headquartered.
David Edwards, who said he was unable to comment, remains head of sales for the Citi division, based in the Sydney head office.
IO&C News jumped the gun last week when we reported the HostPlus deal had been signed. It is understood that this was incorrect at the time. An announcement, nevertheless, is imminent.
Diab, who joined NAB in 2004, was promoted last October to her recent role, when her former sales position was expanded.
It is not known when she starts her new job, which will include the transition from incumbent custodian JP Morgan.
