Aberdeen Standard Investments has moved to accelerate its shift to a major retirement solutions provider in Australia, appointing a former Ernst and Young wealth partner as head of retirement.
The global asset manager recruited EY wealth management executive Jason Nyilas in April to assist the firm in designing retirement solutions for clients.
Nyilas took on the official title of head of retirement and product strategy around two months ago, after spending time on secondment in Malaysia, developing the retirement framework for the Employees Provident Fund, the country's compulsory savings and retirement fund for private sector workers.
ASI managing director Brett Jollie said Nyilas' experience in wealth and retirement ensured he was the right person to push the firm to develop sustainable retirement solutions for Australia, noting the firm also holds significant pensions experience in the UK.
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Jollie said his primary role will be to engage the market on retirement income needs and ultimately help provide retirement solutions for ASI clients.
"We are keen to talk with, and listen to local investors, government and regulators on how we can best meet Australia's growing demand for sustainable retirement solutions," Jollie said.
"The appointment of a highly experienced retirement specialist with a global perspective will allow us to commence those conversations and take a leading role in shaping the provision of retirement solutions in Australia."
Prior to embarking on his Malaysian sojourn Nyilas was a partner at EY Australia, advising the firm's clients - the wealth arms of the big banks and super funds of all persuasions - on retirement, wraps, mergers and acquisitions and "other transformation areas."
Nyilas also spent 10 years at IBM as the firm's global pensions leader, and advised KPMG on the future of its wealth management business across 2014 and 2015.