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VicSuper PM jumps for industry fund

ALLY SELBY  |  WEDNESDAY, 12 FEB 2020
The portfolio manager for responsible investments at VicSuper has resigned ahead of the fund's merger with First State Super, jumping ship for an industry super fund. Kim Farrant has been appointed as the head of ESG at Hostplus. She had been with ...

Compensation bill hits $750m

ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
... coming in at $164.8 million, though the amount paid as at 31 December 2019 is the lowest at around $9.4 million. NAB has paid close to $40 million out of the $163.8 million paid or offered, the highest amount compared to the other institutions. AMP has ...

Former licensee boss banned

JAMIE WILLIAMSON  |  TUESDAY, 11 FEB 2020
... failures. Mark Schroeder was director, chief executive, responsible manager and a key person for Spectrum - once home to close to 100 advisers. Surveillance identified serious concerns about the licensee's compliance with its obligations as an AFSL ...

Super fund reveals ASX 100 equality laggards

ALLY SELBY  |  TUESDAY, 11 FEB 2020
... categories against standards set by Workplace Gender Equality Agency (WGEA), giving them an averaged percentage score for how close the company was to meeting best practice. The big four performed well, with National Australia Bank, Westpac, ANZ, and ...

Challenger boutique winds up

KANIKA SOOD  |  TUESDAY, 11 FEB 2020
An alternatives boutique that Challenger's multi-boutique business Fidante partnered with in February last year has wound up. London-based FME Asset Management (Financial Markets Engineering) ran a derivatives-based strategy taking positions in ...

More engagement with custodians needed: Report

ELIZA BAVIN  |  TUESDAY, 11 FEB 2020
The Australian Custodial Services Association (ACSA) is urging institutional investors to forge closer relationships with custodians to ensure better outcomes are achieved. ACSA released a report describing the evolving role custodians play in Australia's ...

ISA demands pull Combet from ME Bank

HARRISON WORLEY  |  MONDAY, 10 FEB 2020
Former politician Greg Combet has retired from the board of ME Bank, as his commitments to industry super heat up. Combet is departing the industry fund-owned bank after five years on the board, which commenced in November 2014. The former Labor minister ...

Perpetual head jumps for greener pastures

ALLY SELBY  |  MONDAY, 10 FEB 2020
... 13-year tenure with the firm. Now the proud owner of an olive farm, Ehlich said he was excited by the new challenge. "After close to 20-years in financial services and 13 at Perpetual, I decided it was time for a change of pace and a change in scenery," ...

Old boys, girls clubs dominate boards

ALLY SELBY  |  FRIDAY, 7 FEB 2020
A third of Australia's board members are dissatisfied with their roles, blaming a lack of transparency, professional and peer support for their frustrations. The new research, commissioned by advocacy and director placement group Women on Boards (WOB) ...

OneVue takes control of Madison

JAMIE WILLIAMSON  |  THURSDAY, 6 FEB 2020
OneVue has taken control of Madison Financial Group, working to arrange a sale of the dealer group which is home to close to 100 advisers. It's the latest development in the Sargon saga, which began last Wednesday when Sargon entered external administration ...