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Economic recap: Week to November 5

BENJAMIN ONG  |  MONDAY, 8 NOV 2021
The rise and rise of measured inflation across the globe has had financial markets bring forward rate hike expectations, and for good reasons. The Reserve Bank of New Zealand (RBNZ) started proceedings at its 6 October meeting when it doubled the official ...

Pendal recovers losses

ANNABELLE DICKSON  |  FRIDAY, 5 NOV 2021
... optimising our global operating platform and expanding our product offering," Pendal Group chief executive Nick Good said. "We start the new financial year with equity markets near all-time highs. However, we see pressure on flows, particularly in the ...

Carlyle Group bids for Link

ANNABELLE DICKSON  |  FRIDAY, 5 NOV 2021
... Hannah said while it is a large premium, it is still far off Link's previous highs. "However, Link has fallen 20% since the start of the year and it is still well off its all-time high near $9. Whilst it's a good deal for shareholders in the short term ...

Brian Hartzer in new role

ELIZABETH MCARTHUR  |  THURSDAY, 4 NOV 2021
Former Westpac chief executive Brian Hartzer has taken on a new role with a technology firm. He will chair the board of Reejig, an artificial intelligence human resources technology company. Hartzer currently also serves as chair of Beforepay, a Sydney-based ...

SG Hiscock rejigs fund

ANNABELLE DICKSON  |  THURSDAY, 4 NOV 2021
... Hiscock Medical Technology Fund, which aims to provide long-term capital growth via a portfolio of innovative companies and start-ups focused on improving global health. The fund will hold between 40 and 60 investments, both listed and unlisted, from ...

HSBC AM names regional chief

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
A former Fidelity International executive will lead HSBC Asset Management's Asia Pacific business as chief executive. Daisy Ho will assume the role of regional chief executive for Asia Pacific and Hong Kong on November 8. Ho finishes up as Fidelity ...

Goldman Sachs promotes five in ANZ

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 NOV 2021
Five individuals at Goldman Sachs in Australia and New Zealand have been promoted as part of the firm's global managing director class of 2021. In an internal memo, Goldman Sachs Australia chief executive Simon Rothery congratulated Andrew Boak, Andrew ...

AMP officially exits life market

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 NOV 2021
With the complete divestment of its equity interest in Resolution Life, AMP has officially exited the life insurance business. AMP today divested its 19.13% holding in Resolution Life for $524 million. The sale of this holding completes AMP's exit ...

Honan acquires Modern Risk Solutions

ELIZABETH MCARTHUR  |  MONDAY, 1 NOV 2021
... supreme cultural fit for our business, but an exceptional fit for our portfolio of dynamic clients spanning emerging tech, start up, life sciences and broader entrepreneurial business." "For our clients, the extra muscle offered by a globally networked ...

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
... Financial Complaints Authority. Federal treasurer Josh Frydenberg wants CSLR to commence as soon as possible so that it can start paying claims from 1 July 2022. The government will initially fund the scheme in the first year but will eventually be fully ...