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Genium scores consultancy mandate

KARREN VERGARA  |  WEDNESDAY, 19 JUN 2024
Genium Investment Partners won a mandate to provide investment consultancy services to a family-owned wealth advisory firm. Located in Manly, New South Wales, Peer Wealth offers financial and insurance advice, accounting, and mortgage broking services. ...

Industry Super Australia names new chair

ELIZABETH FRY  |  WEDNESDAY, 19 JUN 2024
Industry Super Australia (ISA) has welcomed a top Hostplus executive as its new chair. Hostplus chief member officer Umberto Mecchi replaces Cath Bowtell, who was the acting chair. Prior to Bowtell, Peter Collins led the board after Greg Combet stepped ...

Betashares captures most net flows in managed funds industry

ANDREW MCKEAN  |  TUESDAY, 18 JUN 2024
Betashares has commandeered the top spot for net flows among all investment managers in the managed funds industry. The local fund manager, which yesterday received a $300 million injection from Singaporean conglomerate Temasek, amassed $5.3 billion ...

TAL appoints new chief executive

ELIZA BAVIN  |  TUESDAY, 18 JUN 2024
TAL has appointed Fiona Macgregor as its new group chief executive and managing director, effective 1 October 2024. The appointment follows the promotion of TAL's current chief executive Brett Clark to the role of chief executive and managing director ...

Cbus recruits chief risk officer from Crown

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
Cbus has hired a new chief risk officer from Crown Resorts to replace Wade Martin. Martha Georgiou joins the $90 billion superannuation fund after finishing up as group executive general manager of compliance and regulatory affairs at Crown. Prior to ...

More Aussies anticipate renting in retirement: Vanguard

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
An increasing number of Australians expect to be paying off a mortgage or forced to rent in retirement, according to the latest Vanguard How Australia Retires survey. Vanguard Australia managing director Daniel Shrimski said after working hard and saving ...

Vale Garry Wyatt

KARREN VERGARA  |  MONDAY, 17 JUN 2024
Garry Wyatt, the co-founder and chief executive of Insync Funds Management, has sadly passed away. "Garry Wyatt's profound impact on Insync Funds Management is reflected in his passion, resilience, and unwavering optimism. Garry's dedication ...

'Little prospect' for RBA hike despite stubborn inflation

ELIZA BAVIN  |  MONDAY, 17 JUN 2024
The Reserve Bank of Australia (RBA) will almost certainly leave the policy rate unchanged when it meets next week, according to economists. GSFM investment strategist Stephen Miller said there was "little prospect" of a change in messaging from the ...

SSGA loses $2.4bn in two months

KARREN VERGARA  |  FRIDAY, 14 JUN 2024
State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products. The State Street International Equities Index Trust lost a whopping ...

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
The Australian Prudential Regulation Authority (APRA) has released its finalised prudential practice guide to help superannuation trustees, banks and insurers strengthen their management of operational risk and improve business continuity planning. ...