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.
Gibbs to advise on more than ESG at Eaton Vance
(Pictured: Steve Gibbs)
Steve Gibbs, the former chief executive of what is now Commonwealth Superannuation Corporation, who has been consulting in various ESG roles in recent years, has been contracted as an advisor to Eaton Vance Management and associated managers.
Nicholas Allen, Eaton Vance’s Australian head, said the role was broader than just ESG. “Steve will help navigate the Australian retirement savings market with a view to positioning ourselves as a thought leader and ability to adapt quickly to the ever changing regulatory environment,” Allen said. “ESG is a sub part of a broader set of themes that we see emerging within the decision making process of a large number of superannuation funds.”
Gibbs, who remains non-executive chair of Australian Ethical Investments, is also a former chief executive of AIST.
Allen, who employed Gibbs as an advisor when he was at Merrill Lynch prior to its merger with Bank of America, said: “Steve is a stalwart of the Australian superannuation industry and we’re delighted to have him on board, having worked with him closely over a number of years. Steve’s input to our ongoing strategy and development will be invaluable as we further grow our presence in Australia.”
Gibbs will remain living in Canberra. The two associate firms which he will be involved with are: Parametric Australasia, which this year recruited Chris Briant as chief executive and transferred Jackie Viars from Seattle head office as chief operating officer; and Hexavest, a Canadian manager. Early this year, Eaton Vance appointed Louise Bradshaw, formerly head of client and consultant relations at T Rowe Price, as head of marketing and business development.
