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AMP reports $252m loss

KARREN VERGARA  |  THURSDAY, 10 FEB 2022
While AMP's financial advice and wealth management units show signs of recovery, the group ultimately reported a massive $252 million statutory loss in its full-year financial performance. Underlying net profit after tax, however, was up 53% to ...

New APAC institutional lead at abrdn

JAMIE WILLIAMSON  |  THURSDAY, 10 FEB 2022
... held for more than eight years. Previously she served as director of distribution, asset management at Credit Suisse for close to seven years. She's also held roles with Invesco, Citigroup and HSBC Asset Management across Asian equities and discretionary ...

Jarden hires emerging companies executive

KARREN VERGARA  |  WEDNESDAY, 9 FEB 2022
Jarden appointed a new managing director and head of emerging companies for its equities desk based in the Sydney office. Rohan Gallagher will join the Kiwi investment bank in April, having recently worked at Caltex (now Ampol) and as head of investor ...

Alternatives platform hires from GAM

KARREN VERGARA  |  WEDNESDAY, 9 FEB 2022
The former lead of GAM Investment's wholesale and high-net-worth business has moved to alternatives platform Altive as head of Australia. Ryan Crewe succeeds Chris Brookman, who recently joined Pinnacle Investment Management as its director of distribution ...

Super funds failing on animal protection

KARREN VERGARA  |  TUESDAY, 8 FEB 2022
Most superannuation funds overlook the importance of preventing animal cruelty, a global welfare organisation finds. After analysing 200 super funds, World Animal Protection found that 90% do not have a policy that prevents them from investing in animal ...

MLC Life names head of fund partnerships

JAMIE WILLIAMSON  |  MONDAY, 7 FEB 2022
... most recently executive manager of operations at MTAA Super, a role he held for more than eight years. In total, he spent close to 13 years with the fund, departing last year ahead of its merger with Tasplan to create Sprit Super. Prior to joining MTAA ...

RI Advice slapped with $6m penalty

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
RI Advice was slapped with a $6 million penalty for failing to keep tabs on a representative who invested clients' money in risky and complex financial products. The Federal Court found that RI Advice failed to take the appropriate steps to ensure ...

New study on precious metal hedge

ELIZABETH MCARTHUR  |  FRIDAY, 4 FEB 2022
New research has taken a fresh look at the often-debated topic of how precious metals act as a hedge and/or diversifier in equity portfolios. Jose Arreola Hernandez from Rennes School of Business in France and Sang Hoon Kang and Seong-Min Yoon from ...

UniSuper adds three executives

JAMIE WILLIAMSON  |  THURSDAY, 3 FEB 2022
... March 1. Currently acting chief strategy, member growth and advice officer at Sunsuper, Mair has been with Sunsuper for close to 12 years in a range of roles. She's also held senior roles with Macquarie, MBF and Suncorp. Commenting on her appointment ...

SimCorp reappointed by BNP Paribas

ELIZABETH MCARTHUR  |  WEDNESDAY, 2 FEB 2022
... innovate and our ability to enable our clients to increase their operational efficiency." "We look forward to pursuing this close and trustful collaboration and supporting BNP Paribas Securities Services to scale and achieve their long-term strategic ...