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.
State Street appoints former asset owners lead to head sustainability
State Street Corporation executive vice president Jessica Donohue has stepped in to oversee the asset servicing and fund management firm’s sustainability efforts, succeeding Rick Lacaille, who announced his retirement as head of global investment insights, sustainability and impact earlier this year.
Donohue, who most recently headed State Street’s asset owner segment, has a 20-year pedigree with the group and has held senior roles including leading investor behaviour research at its academia partnership, State Street Associates, which she also later led.
With a focus on delivering sustainability insights to clients and the industry, Donohue in her new role will oversee efforts throughout the broader State Street Group and its investment services division to “bring together investment insights and solutions to deepen relationships”, particularly with clients’ chief investment officers, the company said in a statement announcing the appointment. She will report to Lou Maiuri, State Street’s global COO and head of investment services.
“Being a strategic and trusted partner to our clients to meet their complex and changing needs requires us to continue to evolve our investment-related thought leadership and solutions,” Maiuri said. “Jessica’s background in research and investment-related insights, coupled with her deep understanding of clients’ unique challenges and the market overall, is precisely what our clients need as we continue to deliver as their essential partner.”
Donohue’s resume at State Street also includes her time heading performance and analytics for Investment Services, as well as serving as chief innovation officer and head of advisory and information solutions for Global Exchange, now known as Alpha, State Street’s administration platform.
Donohue also sports an academic background, with several past teaching stints at Brandeis University and the University of Minnesota, and is a champion of State Street’s inclusion, diversity and equity program, the company said. In addition, she serves as co-executive sponsor of its Disability Awareness Alliance.
