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Industry responds to Dover shutdown

JAMIE WILLIAMSON  |  TUESDAY, 12 JUN 2018
The Association of Financial Advisers will lobby ASIC and the Federal Government to extend the transition period provided to Dover Financial Advisers' authorised representatives in the wake of the dealer group's shock closure. On Friday evening ...

Global $221bn manager hires BlackRock exec for new Australian office

ALEX BURKE  |  TUESDAY, 12 JUN 2018
A global investment manager headquarted in Zurich has appointed the head of wealth for BlackRock's local iShares business to lead an expansion into the Australian market. Alex Zaika will become managing director for Australia at GAM Investments ...

Tribeca to become wholly owned by management

ALEX BURKE  |  TUESDAY, 12 JUN 2018
Tribeca Investment Partners is acquiring the equity stake of its longstanding distribution partner, after which it will be 100% owned by its management executives for the first time in 10 years. This will occur once the buy-back process with Grant Samuel ...

AMP Capital appoints new chair

KANIKA SOOD  |  FRIDAY, 8 JUN 2018
AMP Capital has named Vanessa Wallace's successor a month after she resigned as the board chair. Wallace is being replaced by the chair of AMP's responsible entity and trustee boards, John Nesbitt. Nesbitt was previously Suncorp Bank's chief ...

Senior insto sales manager at Schroders retires

ALEX BURKE  |  FRIDAY, 8 JUN 2018
Schroders' senior institutional sales manager is retiring from the industry after more than a decade with the firm. Mark Bourgeois joined Schroders in 2007. Before that, he was vice president of institutional sales and investment services at Merrill ...

HESTA commits $40m to impact investments

ALEX BURKE  |  THURSDAY, 7 JUN 2018
HESTA is committing a further $40 million to its Social Impact Investment Trust (SIIT), which is managed by Social Ventures Australia (SVA). SIIT was launched in 2015 and is aimed at funding investments "that generate both a measurable social impact ...

HESTA revamps executive lineup

JAMIE WILLIAMSON  |  WEDNESDAY, 6 JUN 2018
HESTA made a raft of changes to its senior leadership, with appointments from QSuper, Kinetic Super and Frontier Advisors. HESTA has added three new faces to its leadership team, including the appointment of former QSuper chief of member support and ...

Promotions at Zenith to capitalise on growth

JAMIE WILLIAMSON  |  TUESDAY, 5 JUN 2018
... associate investment analyst. He joins the team with a comprehensive understanding of Zenith's research process and close links to the research team in servicing managed accounts and consulting clients, Zenith said. Zenith said both appointments ...

Fidelity extends institutional capability

HARRISON WORLEY  |  MONDAY, 4 JUN 2018
Fidelity International has appointed a former AMP Capital executive to head up its institutional business as the needs of its clients evolve. Joining the firm from his current post as head of institutional business at AMP Capital is John Meagher. Meagher ...

CBA settles with AUSTRAC for $700m

JAMIE WILLIAMSON  |  MONDAY, 4 JUN 2018
Commonwealth Bank will pay $700 million to resolve civil proceedings brought against it by AUSTRAC for contravening anti-money laundering and counter-terrorism laws - almost double what it anticipated. CBA has announced it reached an agreement with ...