Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 704 results for %22Westpac Super%22

Westpac closes Specialist Businesses Division

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2023
Westpac has decided to fold the Specialist Businesses Division that once housed its platforms, superannuation and insurance businesses, redeploying its lead Jason Yetton. The bank has restructured in support of its next strategic phase, chief executive ...

Ownership changes spur upheaval in unit trust sector

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... billion, folded into Perpetual this year. It was previously part of BT Investment Management, which in turn was part-owned by Westpac. "Perpetual itself has seen significant negative funds flows from its unit trusts, losing 60% of its $1.7 billion total ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... left with a tiny fraction of these costs being recovered," Abood said. "For example, ASIC was successful in court against Westpac in April 2022, with $113 million in penalties being awarded in this single case (which included advice related matters). ...

Westpac plans aggressive platforms play

JAMIE WILLIAMSON  |  WEDNESDAY, 21 JUN 2023
Bringing an end to years of speculation and sales discussions, Westpac will retain its platforms business, saying it intends to "aggressively compete" in the space. Despite having carried out a lengthy and competitive sales process, Westpac is going ...

Regulation, funding inhibits digital advice: Report

KARREN VERGARA  |  MONDAY, 22 MAY 2023
... are well aware of the risks of "treading into personal advice territory, particularly after the High Court ruling in the Westpac case on general advice". While the Quality of Advice Review is expected to solve the issue of blurred regulatory lines and ...

Mercer scoops up third BT business unit

KARREN VERGARA  |  MONDAY, 8 MAY 2023
... their wealth objectives," investments leader for Mercer in the Pacific region Simon Eagleton said. BT's parent company Westpac announced the acquisition in line with releasing the group's half year to March 2023 results. The successor funds transfer ...

BT Super, Mercer merger completes

JAMIE WILLIAMSON  |  MONDAY, 3 APR 2023
... investment multi-manager in Australia". The transfer of both businesses was expected to be a $225 million after-tax gain for Westpac. BT is busy consolidating its remaining superannuation offerings, including shutting down the Retirement Wrap RSE and ...

Super funds back new renewables platform

JAMIE WILLIAMSON  |  TUESDAY, 28 MAR 2023
... Bank, Industrial and Commercial Bank of China, ING Bank, Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, and Westpac.

Global alternatives manager lands down under

ELIZABETH FRY  |  FRIDAY, 24 MAR 2023
... sales and distribution to super funds, banks and asset managers. Before that, he worked for Deutsche Asset Management and Westpac. GCM is the second Chicago firm to establish an Australian office this month. Chicago-based Adams Street set up shop here ...

Dodgy advice bill nears $5bn: ASIC

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
... institutions' financial advice remediation programs, ASIC calculated AMP, ANZ, Commonwealth Bank (CBA), Macquarie, NAB and Westpac have so far paid a combined $4.7 billion. The remediation programs included in ASIC's update relate to customers who suffered ...