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.
Warakirri bolsters its business talent
Warakirri Asset Management has appointed Joe Marassa to the newly created position of head of ‘marketing and product’. Based in Sydney, this role will report to Jim McKay, Melbourne-based managing director. In this role, Marassa will lead the marketing, product and digital strategy for Warakirri as well as being part of the leadership team.
He said last week that once he no longer had to work from home, he would open the Sydney office and recruit a business development manager to focus on the family office and high-net-worth investor market.
McKay said: “We are delighted that Joe has joined Warakirri. It’s an exciting time of rapid growth and development at Warakirri and his wealth of experience in asset management and financial services more broadly will be vital to assist drive our growth ambitions… Joe’s experience spans a wide range of asset classes and investment vehicles across the retail, wholesale and institutional channels. He also has a proven track record of growing brands and executing effective marketing and product strategies for several funds management businesses.”
Marassa said: “I’m absolutely thrilled to join Warakirri. “The role is a greenfield opportunity. The organisation is undergoing transformational change and it’s an exciting time to build the Warakirri brand.”
Marassa has more than 20 years of industry of experience across senior marketing and product roles. He was most recently head of marketing at Franklin Templeton. Prior to that he was head of distribution services at ING Investment Management where he spent eight years in strategic marketing, channel management and brand management roles. Before that he was at Commonwealth Bank and Colonial First State.
Warakirri, started by John Nolan of JANA fame, is a specialist manufacturer and distributer, with capabilities across agriculture and ethical investing in Australian and global equities. Warakirri also works in partnership with US manager Mesirow Financial to deliver passive and active currency solutions and US multi-family real estate opportunities to Australian investors.
It is a private company, 100 per owned by its directors and employees, managing about $2 billion in assets under management and commitments. The firm celebrated its 25th year in business in 2018.
– G.B.
