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Australian housing crisis escalates as affordability worsens

ANDREW MCKEAN  |  MONDAY, 8 APR 2024
... approvals and a depressed construction pipeline. Consequently, the government's goal to construct 1.2 million new homes over the next five years will be "a challenge to achieve." "With supply constrained and underlying demand still strong, the housing ...

Nest appoints interim chief executive

ELIZA BAVIN  |  FRIDAY, 5 APR 2024
... and develop. "The organisation has a unique and purposeful place in the sector and I'm looking forward to supporting the next phase of its future," he said. Cornelius will also join Nest's board and take on the role of accounting officer. The board of ...

Fund managers prepare for harsher penalties

ELIZA BAVIN  |  THURSDAY, 4 APR 2024
... interviewed believe their market was over-regulated, but despite this 85% believed the level of regulation would increase over the next five years. When it came to their organisation adhering to regulations in the different jurisdictions they operate ...

Macquarie executive to become chief product officer at BT

JAMIE WILLIAMSON  |  WEDNESDAY, 3 APR 2024
BT has appointed a longstanding Macquarie executive as its next chief product officer, replacing Kathy Vincent. Annabelle Kline will take over as BT's chief product officer in May. She will be responsible for leading the platforms business, comprising ...

Former adviser slapped with 12 charges

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
A former financial adviser has been charged with 12 counts of dishonest conduct for falsifying clients' documents to access their superannuation accounts. The Downing Centre Local Court yesterday slapped the charges on David Mario Valvo while running ...

Wealth firm gears up to change administrator

ANDREW MCKEAN  |  TUESDAY, 2 APR 2024
Acclaim Wealth is preparing to conduct a data migration for its AMG Super Personal Pension Division next week, involving approximately 6000 members with funds under management of $1.6 billion. The migration will move these members from an old FNZ technology ...

Legalsuper names chief investment officer

JAMIE WILLIAMSON  |  THURSDAY, 28 MAR 2024
... MinterEllison. Commenting on the appointments, legalsuper chief executive Luke Symons said: "I'm personally very excited about the next phase of growth for legalsuper." "Paul, Colin, and Alissa each represent best-in-market talent in their respective ...

Investment managers embracing AI: Mercer

ANDREW MCKEAN  |  THURSDAY, 28 MAR 2024
... healthcare (72%), financial services and wealth management (70%), legal services (66%), banking (64%), and insurance (61%) are the next-most-cited areas of opportunity for value creation. Managers currently using AI expect the integration of its capabilities ...

Infrastructure a foundational portfolio asset class: IFM Investors

ANDREW MCKEAN  |  THURSDAY, 28 MAR 2024
... transition will arguably be "the most significant structural change" undertaken since the early industrial revolution. "Over the next three decades, over $100 trillion will need to be deployed to completely restructure our economy - much of which will ...

BlackRock's Fink signals a tough road ahead for future retirees

ANDREW MCKEAN  |  WEDNESDAY, 27 MAR 2024
... They believe my generation - the Baby Boomers - have focused on their own financial well-being to the detriment of who comes next. And in the case of retirement, they're right," he said. "Today in America, the retirement message that the government ...