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Industry mega trends impacting distribution roles

ELIZABETH FRY  |  MONDAY, 11 SEP 2023
Natixis Investment Managers has beefed up its distribution team as the asset manager prepares for rugged market conditions amidst dislocation driven by internalisation and increased specialisation. The doubling of the sales headcount marks one of Natixis' ...

Platinum AM reports almost $1bn in outflows

ANDREW MCKEAN  |  FRIDAY, 8 SEP 2023
... development, Magellan Financial Group announced the retirement of non-executive director Colette Garnsey, effective at the close of the company's annual general meeting on November 8. She will be succeeded by former BT Financial head of equities Cathy ...

IFM Investors puts $46m into energy retail sector

CHLOE WALKER  |  FRIDAY, 8 SEP 2023
IFM Investors (IFM) has made a substantial investment in global energy software provider Tally Group (Tally) via its Australian growth equity fund, IFM Growth Partners 2. Tally currently serves over 70 energy retailers across Australia, New Zealand ...

Count welcomes chief financial officer

CHLOE WALKER  |  FRIDAY, 8 SEP 2023
Keith Leung has been appointed to the role of chief financial officer at Count. Leung brings close to 20 years' experience in financial services, most recently serving as general manager, business service and finance transformation at Australian energy ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... AustralianSuper to court over its failure to properly monitor and consolidate multiple accounts on behalf of members for close to a decade. In May, AustralianSuper announced it would be refunding close to $70 million in administration fees and insurance ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
APRA has found early signs of change in the remuneration practices of financial services entities in a review of how Prudential Standard CPS 511 has been applied. In a letter to all APRA-regulated entities, the regulator said it was pleased with the ...

Aware Super, Altis buy Crown Group site

CHLOE WALKER  |  THURSDAY, 7 SEP 2023
... pillar of Aware Real Estate's investment strategy is to be a leader in the build-to-rent sector. "Our focus is on sites close to important urban infrastructure like hospitals, schools and transport, to make sure essential workers can live closer ...

Macquarie flags asset management challenges

CASSANDRA BALDINI  |  THURSDAY, 7 SEP 2023
... strengthen its risk culture," it said. Macquarie's share price took a hit and started to slide from its $176.47 market close on Tuesday to $170.21 market close on Wednesday. It continued to sink to a low of $170 at market open this morning and has ...

RBA holds cash rate at 4.1%

CASSANDRA BALDINI  |  WEDNESDAY, 6 SEP 2023
... upon the data and the evolving assessment of risks," the RBA said. "In making its decisions, the board will continue to pay close attention to developments in the global economy, trends in household spending, and the outlook for inflation and the labour ...

Integrity Life to cease writing new retail policies

JAMIE WILLIAMSON  |  TUESDAY, 5 SEP 2023
... business "at this time." "Protection of policyholders is critical and as such the board has taken the difficult decision to close to new business in the retail advised and corporate group channels," Integrity Group chair Eric Dodd said. Meanwhile, chief ...