Macquarie reports $1bn net profit

A former Income Asset Management executive director has launched Ancora Fixed Income Advisory for high-net-worth clients targeting the defensive asset class.

TAL has named a new partnership leader who will focus on its collaboration with a super fund, replacing Mel Jose, who left in August to join Netwealth after a two-year stint.

Capital Group said the Middle East is a strategically important region for the business and its clients.

UniSuper chief investment officer John Pearce said the $175 billion super fund decided to not take part in the Firmus float, describing the neo-cloud company as "priced to perfection", before the initial public offering (IPO) was abandoned today.