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Yarra hires head of macro, strategy

KANIKA SOOD  |  THURSDAY, 20 JUN 2019
A highly-regarded economist has jumped to Yarra Capital Management in a role that will advise the firm's fixed income and equities teams. Tim Toohey will work closely with Yarra on financial markets outlook and asset allocation, as its new head ...

Frontier adds consultant from WTW

ELIZABETH MCARTHUR  |  THURSDAY, 20 JUN 2019
Frontier Advisors has appointed a new director of sector research from Willis Towers Watson. Paul Newfield steps into the lead role after eight years as a senior investment consultant at Willis Towers Watson. Prior to that posting, Newfield was with ...

Chief economist update: Fed plans for Trump contingency

BENJAMIN ONG  |  THURSDAY, 20 JUN 2019
The Fed's decision to maintain current policy settings at the conclusion of last night's FOMC meeting doesn't make for much except for self-congratulations and back-patting. What matters more is the forward guidance implicit in the FOMC ...

Advice group hires national practice manager

KARREN VERGARA  |  WEDNESDAY, 19 JUN 2019
A financial advice network has hired a practice management professional from InterPrac Financial Planning. Lifespan Financial Planning announced Michael Gershkov has joined the firm's Melbourne office as national practice manager. Gershkov was national ...

Insurer to add value via tech

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 JUN 2019
... for their community contribution, whether it be doing a charity fun run, giving blood or volunteering for the cause that's close to their heart, is therefore not only unique, it makes complete sense." The app offers discounts on services and retailers ...

AUSTRAC zeroes in on Afterpay

HARRISON WORLEY  |  MONDAY, 17 JUN 2019
Tech-darling Afterpay is feeling the regulatory heat after AUSTRAC ordered an audit of the fintech's compliance with Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF) laws. AUSTRAC said an external auditor will examine Afterpay's governance ...

New AFCA remit not enough: Law firm

KANIKA SOOD  |  MONDAY, 17 JUN 2019
A law firm has approached the Treasury with concerns the reforms made to the Australian Financial Complaints Authority after the Royal Commission are flawed and need urgent amendment. In February, the Federal Government expanded AFCA's remit to give ...

Chief economist update: Another RBA rate cut should be enough

BENJAMIN ONG  |  MONDAY, 17 JUN 2019
The Aussie dollar is down. Repeat, the Aussie dollar is down! The A$/US$ exchange rate closed at US$0.6879 - down 2.3% this year to date its lowest level in three years - at the end of last week's trading. The local currency is down 1.8% (year-to-date) ...

More Australians retire with big mortgages

ELIZABETH MCARTHUR  |  FRIDAY, 14 JUN 2019
New research analysing Australian Bureau of Statistics microdata shows that more Australians are retiring owing money on their mortgage. The portion of homeowners between ages 55 and 64 that owe money on mortgages has tripled since 1990 - from 14% to ...

LUCRF Super ups premiums for older members

KARREN VERGARA  |  THURSDAY, 13 JUN 2019
The $6.5 billion superannuation fund is "substantially" reducing premiums for younger members at the expense of members aged 50 and over. LUCRF Super is changing death and TPD, and death insurance cover from July 1 as part of the new Protecting Your ...