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Fixed income giant names Australia head

ALLY SELBY  |  TUESDAY, 21 JAN 2020
A global fixed income investment manager has named its new Australia head, promoting the incumbent to a regional leadership role. PIMCO managing director and co-head of Asia-Pacific portfolio management Rob Mead is set to head PIMCO's Australia ...

Job boom expected in 2020

JAMIE WILLIAMSON  |  MONDAY, 20 JAN 2020
Close to a third of wealth management organisations are looking to boost staff numbers this year, with sales roles expected to be most in demand. According to new figures from Super Recruiters, 32% of wealth management organisations expect to hire more ...

GROW Super boosts executive leadership

HARRISON WORLEY  |  THURSDAY, 16 JAN 2020
Superannuation startup GROW Super has appointed a deputy chief executive as the firm looks to transition towards administration. Less than a year after he joined the firm, GROW Super head of strategy Adam Gee has been promoted to deputy chief executive. ...

Super fund grows US real estate assets

HARRISON WORLEY  |  WEDNESDAY, 15 JAN 2020
... Redmond headquarters. The fund's new Falls Church twin-tower apartment complex contains more than 900 apartments and is close to fully occupied. According to Kumaru, the likelihood of Amazon moving its new headquarters to Virginia would see the state's ...

The Income Store closed for business

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JAN 2020
The US Securities and Exchange Commission froze the assets of Ken Courtright's company Todays Growth Consultant which also operated as The Income Store. The commission has filed an emergency enforcement action, obtained a temporary restraining order ...

Commonwealth Super mulls platform changes

KANIKA SOOD  |  MONDAY, 13 JAN 2020
... CSC said. If CSC chooses to proceed, it is looking at an execution over two weeks in March and February. Submissions will close on January 24. It is asking respondents to reply with conceptual architecture of their proposed solution, the cost of implementation ...

Chief economist update: Aussie Black Friday spend will end Saturday

BENJAMIN ONG  |  MONDAY, 13 JAN 2020
... index surged by 0.7% to a new record high of 7041.9 points and the Australian dollar appreciated by 0.6% to US$0.6901 at the close of last week's trading - boosted by optimism over the upcoming US-China "phase one deal" expected to be signed on the ...

First Sentier hires AMP Capital portfolio manager

KANIKA SOOD  |  FRIDAY, 10 JAN 2020
... our business going forward and are pleased to continue our strategic, long-term investment in the team." AMP is aiming to close its superannuation trustee AMP Superannuation Limited (ASL) and five of its seven super funds by June 30. It will retain master ...

SMSFA slams limited licensing

HARRISON WORLEY  |  THURSDAY, 9 JAN 2020
... Association said limited licensing should be phased out in favour of a customer-centric framework designed to raise standards and close gaps in advice. According to SMSFA chief executive John Maroney, the limited licensing system is "defunct" and requires ...

AMP to cull super trustee, five funds

HARRISON WORLEY  |  THURSDAY, 9 JAN 2020
... of Representatives Standing Committee on Economics, AMP revealed its simplified wealth management arm will see it aim to close superannuation trustee AMP Superannuation Limited (ASL) and five of its seven super funds by June 30. Following the change ...