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Showing 3011 - 3020 of 8182 results for "Institutional"

NAB CEO apologises over super failures

HARRISON WORLEY, DARREN SNYDER  |  FRIDAY, 10 AUG 2018
National Australia Bank chief executive Andrew Thorburn took to social media yesterday to apologise on behalf of the group's 34,000 staff for failures identified at the financial services Royal Commission. Speaking about confronting allegations ...

BNY Mellon partners for new fund, eyes Aussie retail market

KANIKA SOOD  |  FRIDAY, 10 AUG 2018
... Phillip Filippelis said the banking giant's Australian business has, to date, focused on superannuation funds and institutional investors. "Partnering with a well-respected group such as Pinnacle will enable Australian financial advisers and retail ...

First on the block: CBA to develop blockchain bond

HARRISON WORLEY  |  FRIDAY, 10 AUG 2018
... developed by the CBA innovation lab's blockchain centre of excellence. CBA international executive general manager of institutional banking and markets James Wall said the bank took a collaborative approach to innovation, having partnered with other ...

We have won the battle, not the war: AustralianSuper CEO

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
AustralianSuper chief executive Ian Silk told the Royal Commission the industry super Fox in the Henhouse campaign helped win the battle, but the war continues over default superannuation arrangements. The chief executive of Australia's largest ...

Conflict of interest too great for NULIS: Royal Commission

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
Conflicts of interest between NULIS and NAB Wealth were too great for the superannuation trustee to manage, the Royal Commission has heard today. Counsel assisting Michael Hodge suggested to former NULIS chair Nicole Smith the trustee "simply couldn't ...

Magellan funds record $331m profit

KANIKA SOOD  |  THURSDAY, 9 AUG 2018
... Magellan's funds management business now has $59 billion funds under management - up 29% over last year. Both retail and institutional investors were keen on the funds throughout FY18, contributing $1.9 billion and $2.5 billion in net inflows. The ...

TAL acquires Suncorp Life

JAMIE WILLIAMSON  |  THURSDAY, 9 AUG 2018
Following a strategic review, Suncorp will sell its life insurance business to TAL. TAL Dai-ichi Life and Suncorp have entered into a non-binding Heads of Agreement that will see TAL acquire the business for $725 million. The agreement includes a 20-year ...

MLC MySuper investment budget was tight-fisted: Royal Commission

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
NULIS Nominees resisted increasing its spend on investment management, despite opinions from its super fund portfolio manager and asset consultant that its current investment fee budget wasn't adequate to boost the performance of its lagging MLC ...

AMP wealth arm leaked $873 million in first half

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
AMP's wealth management arm, which includes its superannuation and platform products, saw net outflows of $873 million in the first half of 2018. By comparison, it had recorded net inflows of more than $1 billion in first half of last year. AMP's North ...

CBA readies wealth demerger, records $9.2bn cash profit

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
Investors looking to buy Commonwealth Bank's demerged wealth management arm now have a clearer picture about what it looks like - a business which has generated after-tax profit of more than $500 million for the past two years. NewCo, or Commonwealth ...