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Showing 2531 - 2540 of 8182 results for "Institutional"

UK pension funds to be hit hard over negligence

HARRISON WORLEY  |  WEDNESDAY, 13 MAR 2019
The UK Government wants to up the ante on pension fund bosses who endanger worker's retirement savings. Under a new proposal from the UK Government, bosses would face up to seven years in jail for endangering the retirement savings of their workers ...

GPT sells MLC Centre for $800 million

ELIZABETH MCARTHUR  |  WEDNESDAY, 13 MAR 2019
The GPT Group will sell its 50% share in the MLC Centre to Dexus and Dexus Wholesale Property Fund after entering into a binding agreement. The sale price is $800 million, representing a 3%premium to GPT's December 2018 book value. The asset has achieved ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
ASIC's fee-for-no-service report card shows the regulator and some financial advice licensees still have fundamentally different views on what constitutes a fee-worthy service. ASIC's fees-for-no-service further review report card has shone light on ...

CFSGAM expands US footprint with senior hires

KARREN VERGARA  |  TUESDAY, 12 MAR 2019
Colonial First State Global Asset Management made four senior appointments amid growing institutional demand for infrastructure. CFSGAM, which is known as First State Investments in North America, hired John Ma as a director to oversee new investment ...

Hermes inks local ESG partnership

KANIKA SOOD  |  TUESDAY, 12 MAR 2019
The British investment management giant has signed an agreement to share its ESG expertise with an Australian body for asset owners. Hermes Investment Management's stewardship business (EOS) will share engagement insights about Australian and global ...

New bank launches for nurses and midwives

ELIZABETH MCARTHUR  |  TUESDAY, 12 MAR 2019
A new bank is launching, dedicated to meeting the needs of Australia's nurses and midwives. The Health Professionals Bank is a part of Teachers Mutual Bank Limited, meaning Teachers Mutual Bank Limited now comprises four banks - Teachers Mutual Bank ...

Clayton Utz finally hands AMP notes to ASIC

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
ASIC has struck a major blow in its court battle with AMP over the wealth manager's fee-for-no-service issues. The corporate regulator was handed internal file notes from law firm Clayton Utz last week, which relate to the firm's interviews ...

Amendments to retirement income law assent

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
A bill amending retirement income legislation is now law, with several changes made to the legislative framework surrounding retirement income and social security receiving Royal Assent late last week. The Social Services and Other Legislation Amendment ...

ASIC scolds banks over fee-for-no-service delays

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
Australia's major financial services institutions are taking too long to remediate customers over their fee-for-no-service issues and ASIC is not pleased. The corporate regulator released an update to the "further review" programs currently underway ...

Super fund chief executive to retire

KANIKA SOOD  |  MONDAY, 11 MAR 2019
The chief executive of one of Australia's largest corporate superannuation funds is retiring and the fund is hunting for a replacement. Doug Carmichael is slated to retire in June end after nine years of leading Commonwealth Bank Group Super. The ...