The ASIC report into death benefit claims revealing the devastating impact of poor industry practices on grieving Australians has again highlighted the pressing need for change. While some funds have taken up the cudgels, others are still playing hardball on improving their service offering.
A Retirement Income Covenant obligation notwithstanding, there is still a paucity of these complex products on offer. The Advice Through Superannuation draft legislation might offer a way forward.
Sunsuper strengthens team with new operations position
(Pictured: Lounarda David)
Sunsuper has recruited Lounarda David, a former worldwide partner of Mercer and head of the Mercer Sentinel regional custody, transitions and implementation arm of the firm. She will be head of investment operations at Sunsuper – a new role.
Reporting to Sunsuper CFO, Bruce Wilson, David had recently been doing some consulting work with the fund and previously was involved in the transition of its custody business to State Street.
Wilson said her appointment coincided with a critical expansion period for the fund. He said: “Lounarda is one of the most experienced people in her field in Australia and will be a great addition to our capable investment team.”
David has been involved in various consulting jobs since she left Mercer in April 2012 after 14 years with the firm. Prior to Mercer she spent 12 years at State Street, finishing up there as a vice president and senior relationship manager.
She has an accounting and business degree but spent two years at a law firm prior to State Street.
