Schroders has hired from RBC to appoint a head of private debt for Australia, as it builds out a private assets offering for local investors.

The administrator appointed to embattled investment group iProsperity, Cor Cordis, has released a damning creditors' report which includes accusations of Ponzi scheme style payments.

Reserve Bank of Australia governor Philip Lowe said the legislated increase to the superannuation guarantee will impact wage growth and the government will need to weigh up the impacts of that.

National Australia Bank has reported a 7% fall in cash earnings to $1.55 billion for the third quarter, as the bank confirms it is still "actively exploring" options for the sale of its wealth management business.