A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
Murray Brewer calls it quits at T. Rowe Price
After 14 years at the helm, having established and led the firm’s growth in Australia and New Zealand for all that time, Murray Brewer has told colleagues and his bosses in Baltimore, USA, that he will retire from T. Rowe Price at the end of this year.
Commenting on his decision, disclosed just before Christmas, the company said in a statement to Investor Strategy News: “T. Rowe Price Australia confirms that Murray Brewer, head of distribution for Australia and New Zealand, will retire at the end of December 2020 after 14 years with the business.”
Brewer was, before joining T. Rowe Price, the head of distribution at Schroder Investment Management in Australia and before that a senior business development manager at AMP Capital. He is a highly regarded funds management industry figure.
Nick Trueman, the head of distribution for Asia Pacific, said in that same prepared statement: “It has been a privilege and honour to work with Murray and we are grateful for his outstanding leadership over the years. Murray’s vision and passion for client outcomes has always been clearly evident and under his lead, Australia has grown its footprint significantly and become one of the strongest funds management businesses in the Asia Pacific region.”
In the formal statement, Brewer said: “This has been an incredible journey for the firm since we opened the Sydney office in 2006. It’s been a privilege to have helped recruit and mentor so many talented people who are singularly focused on putting client outcomes first…. As the industry continues to evolve, I’m incredibly optimistic about the future of T. Rowe Price in Australia and the invaluable role it plays with our clients in helping to inspire better retirement outcomes.”
– G.B.
