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Powell backflips on rates pushing back RBA cut expectations

ELIZA BAVIN  |  WEDNESDAY, 17 APR 2024
... possibility of upcoming interest rate cuts, which means it could be an even longer wait here in Australia. Powell said recent US inflation data had not given policymakers enough confidence to ease interest rates soon, noting that the Fed may need to ...

The Aussie wealthtech firms that are 'most innovative'

ANDREW MCKEAN  |  TUESDAY, 16 APR 2024
The annual list of the world's most innovative wealthtech companies was recently released, with several Australian firms making the cut. Iress, GBST, Practifi, Lumiant, and Ignition Advice were all on the list, which was selected by a panel of industry ...

Vale Wayne McGauley

ELIZA BAVIN  |  TUESDAY, 16 APR 2024
The financial services industry has paid tribute to Wayne McGauley who passed away over the weekend. Most recently the head of distribution at Wheelhouse Partners, McGauley had a long and successful career in the financial services industry spanning ...

HUB24 hits $100bn milestone

KARREN VERGARA  |  TUESDAY, 16 APR 2024
HUB24, which owns Xplore Wealth, Class, and myprosperity, surpassed the $100 billion milestone at the end of March. Some $79.7 billion in FUA, up 34% year on year, came directly from the platform. Its Portfolio Administration and Reporting Services' ...

Bell Asset Management announces new chief executive

ELIZA BAVIN  |  TUESDAY, 16 APR 2024
Bell Asset Management (BAM) has announced its new chief executive after commencing the search back in January. Michael Lovett will join BAM as chief executive, effective April 15. He was most recently head of superannuation at Vanguard, where he spearheaded ...

Apostle Funds Management welcomes new head of wholesale

ELIZA BAVIN  |  TUESDAY, 16 APR 2024
Apostle Funds Management announced the appointment of Stuart James to the newly created role of head of wholesale, effective immediately. James will support head of global distribution Kimon Kouryialas in the delivery of Apostle's investment solutions. ...

AMP executive pay packet shrinks amid simplification

KARREN VERGARA  |  MONDAY, 15 APR 2024
AMP's top brass continues to see their remuneration packages shrink as it becomes a "leaner" business, its recent annual general meeting (AGM) heard. AMP outgoing chair Debra Hazelton told the AGM last week that director fees from 2019 have reduced ...

Citi Australia managing director takes on expanded remit

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
Citi Australia has expanded the remit of managing director Nicki Ashton, appointing her as the head of financial institutions sales and solutions (FISS). In her new role, Ashton will provide strategic oversight of Citi's engagement and support for institutional ...

ASIC consults on misconduct reporting rules

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... consultation is in response to feedback from industry associations, professional bodies, and the Parliamentary Joint Committee's recent recommendation on statutory reporting obligations, which advocated for a comprehensive review to assess if the current ...

Centuria shakes up senior investments team

KARREN VERGARA  |  FRIDAY, 12 APR 2024
... investment officer. Essey joined Centuria in early 2013 as national leasing manager and a fund manager prior to his most recent role of head of transactions. Before Centuria, he worked at DTZ for six years, which merged with Cushman & Wakefield. Nathan ...