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Investment manager appoints global chief

HARRISON WORLEY  |  FRIDAY, 26 APR 2019
... chief executive. Savills Investment Management named Alex Jeffrey as its new chief executive, as the firm embarks on the next stage of its global growth. Set to join the firm later this year, Jeffrey will be based in Singapore and will take a seat at ...

Rush of advisers sign up before FASEA deadline

ELIZABETH MCARTHUR  |  FRIDAY, 26 APR 2019
... registered with ASIC increased by 7000. AMP is the largest advice licensee with 2577 advisers. However, its margin over the next largest licensee - CBA - has significantly reduced. At that point in time, AMP had 1550 more advisers than CBA. This is now ...

ASA to vote against AMP remuneration

HARRISON WORLEY  |  FRIDAY, 26 APR 2019
The Australian Shareholders Association is set to take a swing against AMP at the wealth manager's AGM next week. ASA will vote against AMP's remuneration report at its annual general meeting next Thursday, as it harbours ongoing concerns about culture ...

Chief economist update: Lock in two RBA rate cuts

BENJAMIN ONG  |  FRIDAY, 26 APR 2019
... "experts" were still predicting one, maybe two, RBA rate HIKES going forward... and the RBA was still insisting that the next move in interest rates is likely to be up rather than down) - now locks it in into not just one but two interest rate reductions. ...

New fund administrator enters Australian market

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
... in 2018, assisted by its acquisition by Constellation Software, and sees its expansion into the Australian market as the next step. FRS said there is demand in Australia for software that can provide unit pricing, fund administration, automated cash ...

Colonial First State makes major fee cuts

KANIKA SOOD  |  THURSDAY, 18 APR 2019
... outstripped CFS in capturing net fund flows in September quarter. Read more about how CFS is building its platform business in the next print edition of Financial Standard, out April 22.

ANZ dismisses alleged job cuts

KARREN VERGARA  |  THURSDAY, 18 APR 2019
ANZ has denied reports it will cut 8000 jobs over the next three years. This was in response to an article from The Australian stating it obtained board discussions of executives that "canvassed reducing the bank's workforce by almost 20,000 to ...

Industry funds eye SMSF market stronghold

KARREN VERGARA  |  TUESDAY, 16 APR 2019
... of consolidation. Excluding SMSFs, the number of accounts will decline from 22.3 million to 16.2 million accounts in the next decade. At this point in time, funds continue to scale and operating models will undergo a significant shift, it said. "What ...

US relaxes active ETF disclosures

KANIKA SOOD  |  TUESDAY, 16 APR 2019
... pickers who do not want to reveal their holdings for fear front runners and others may seek to capitalise on predicting their next move." "We are very appreciative of the SEC's engagement with us to thoroughly vet and address a process that we believe ...

Aussie blockchain investor goes global

ELIZABETH MCARTHUR  |  TUESDAY, 16 APR 2019
... accredited and sophisticated investors." Grasshopper investment manager Frank Amato added that: "Blockchain and DLT represent the next evolution of a distributed database. We are seeing widespread adoption from JP Morgan, Facebook, IBM, Starbucks, Fidelity ...