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Trump victory will jostle trade war, interest rates: Morningstar

KARREN VERGARA  |  FRIDAY, 9 AUG 2024
The potential re-election of Donald Trump will likely jostle inflation and interest rates, and stoke further trade wars with China, according to Morningstar. If Trump wins in November, Morningstar director of equity research for Australia and New Zealand ...

BlackRock names Asia Pacific operations chief

JAMIE WILLIAMSON  |  THURSDAY, 8 AUG 2024
BlackRock named Tomoko Ueda as chief operating officer for its Asia Pacific business, succeeding James Raby who will become global head of compliance. Ueda has been with BlackRock since 2022 when she joined as head of corporate strategy and development ...

What Yarra Capital is buying in the dip

ELIZA BAVIN  |  THURSDAY, 8 AUG 2024
Global markets were rocked at the start of this week over fears of a potential US recession after a higher-than-expected jump in US unemployment figures. But Yarra Capital head of macro and strategy Tim Toohey said while the risk of a recession in the ...

AMP sells advice licensees to Entireti, AZ NGA

JAMIE WILLIAMSON  |  THURSDAY, 8 AUG 2024
AMP will sell its advice licensees and support services business to Entireti and AZ NGA and offload its minority stakes in 16 individual practices. It comes as the advice business reports a net loss of $15 million. Entireti, formerly Fortnum Private ...

RBA on hold: Experts split on 2024 cut

ELIZA BAVIN  |  WEDNESDAY, 7 AUG 2024
The Reserve Bank of Australia (RBA) left interest rates unchanged at 4.35% at its August board meeting. RBA governor Michele Bullock said the case for an interest rate cut in the near-term was not a likely scenario. "Based on what I know today and what ...

Vision Super closes property, infrastructure options

JAMIE WILLIAMSON  |  TUESDAY, 6 AUG 2024
Vision Super is closing its Property and Infrastructure options, while also removing the asset classes from one of its balanced offerings. Effective October 4, Vision Super's Property and Infrastructure options will be closed to members, with Vision ...

Global X chief to step down

ANDREW MCKEAN  |  TUESDAY, 6 AUG 2024
Global X ETFs Australia chief executive Evan Metcalf will step down from his role at the end of October after a decade with the firm. During the transition period, chief operating officer Oliver Reynolds and head of sales Manny Damianakis will oversee ...

Cbus taps ex-AustralianSuper equities chief for 'critical role'

ANDREW MCKEAN  |  TUESDAY, 6 AUG 2024
Cbus has appointed a former AustralianSuper equities chief to serve as its head of portfolio construction. Justin Pascoe, who joined AustralianSuper as a senior portfolio manager in June 2019 before being promoted in August 2021, will take on the "critical ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
The founder and former chief executive of wealth management firm United Global Capital, Joel Hewish, has been slapped with a 10-year ban from providing financial services. Hewish, who is also prohibited from holding any role within a financial services ...

BNP Paribas in talks to buy AXA Investment Managers

JAMIE WILLIAMSON  |  FRIDAY, 2 AUG 2024
AXA is at the pointy end of discussions with BNP Paribas to offload its asset management business for $8.5 billion. AXA Investment Managers has been part of the AXA Group for 25 years and, in that time, has grown to house some $1.4 trillion (€850 ...