Few would disagree that a strong regulator is required for a strong superannuation system. But APRA’s myopic focus on cost to members means its $70,000 Christmas party is unlikely to help its reputation.
Good investing requires real sacrifices, according to Oaktree’s Howard Marks, but you can’t expect to be compensated just for making them.
Ravi to pick up QIC reins from Brian Delaney
Brian Delaney, a stalwart of the institutional funds management industry and an executive director and global head of client solutions and capital at QIC, has confirmed he will retire at the end of the year. His successor, Ravi Sriskandarajah, who is almost as well-connected, was announced last week.
Delaney, who has been in the industry for about 40 years, starting with the old Prudential insurance company in Queensland, has spent most of his career in senior business development and marketing roles in funds management based in Sydney – for Prudential (which was acquired by Colonial First State), then AMP Capital, for 14 years, and then the past eight years at QIC. He returned to Sydney last November after an 18-month stint in QIC’s growing US operation.
With Damien Frawley, the QIC chief executive (and former Wallaby), Delaney helped make QIC, a Queensland Government-owned $80 billion manager, a truly global business. He intends to leave in December this year. He has been an active participant in industry associations and assisting other people’s career development for much of his time in the funds management industry. For instance, he was the driving force behind the establishment of the ‘Fund Executive of the Year Award’, overseen by FEAL (the Fund Executives Association Ltd), and has played an active part in various industry endeavours.
Ravi, also a native of Queensland, plans to return with his young family from Hong Kong to take up his new role in Brisbane head office by September. He established the Australasian business of BMO Asset Management after spending 13 years in a senior sales role at BlackRock in Sydney.
At BMO he was promoted to head up the business for Asia Pacific, based in Hong Kong, in 2015, and subsequently also became the chief executive of London-based LGM Investments, a BMO subsidiary specialising in emerging markets.
– G.B.
