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.
Telstra Super CFO lands at FNZ
(Pictured: Christina Liosis)
Christina Liosis, the former chief financial officer at Telstra Super, who oversaw the fund’s operational transition in securities services and member directed investment options, has joined systems provider FNZ.
Liosis has become CFO for Australasia, based in Melbourne. FNZ has offices in New Zealand, where the company started, Sydney, Melbourne and Singapore in the APAC region, and in the UK and the Czech Republic.
Liosis reports in Australia to Marshall Stephen, who was recruited for the top job in the region last year, after previous chief executive, Martin Jennings, was promoted back to the UK.
FNZ made its mark some years ago when it won some big contracts with UK life offices to build master-fund-style platforms. In Australia, the company is best known for having won the contracts with the largest super funds, including AustralianSuper, Telstra Super and QSuper, to introduce member directed investment option platforms, in conjunction with broker UBS.
Liosis said FNZ was looking to bolster its superannuation knowledge in the region in line with the industry, which was responding to members wanting individual custody arrangements and with expectant growth.
She started her career in the superannuation industry as accounting and tax manager at Mercer. She became executive manager, finance, for Cbus in 2002 and then CFO at Telstra Super from 2008 to 2012. For the past year she has been acting chief executive of the YWCA of Victoria and she remains a director of the Royal Women’s Hospital.
