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State Street global chief to retire

ALEX BURKE  |  WEDNESDAY, 8 NOV 2017
State Street's global chief executive will retire next year after more than 30 years with the global financial services firm. Jay Hooley took the reins at the US' second-oldest financial institution in 2010, having joined in 1986. Over the past three ...

Former BBY adviser cops 10-year ban

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2017
... Planning financial adviser Ricky David Gillespie pleaded guilty to forging 33 client documents and is due to be sentenced next month. ASIC's investigation between 1 January 2007 and 13 June 2009 alleged that Gillespie, a senior financial planner on the ...

Beyond 6000

BENJAMIN ONG  |  WEDNESDAY, 8 NOV 2017
... spring, and China's slowdown (which battered Australia's mining sector) prevented the index from revisiting this level over the next seven years. The second attempt was in 2015 when it reached 5973.32 points in March of that year, aided by the RBA's ...

FinPal integrates broking capabilities

JAMIE WILLIAMSON  |  MONDAY, 6 NOV 2017
... functionality for mortgage brokers to its software to accommodate for the increasing overlap of broking with financial advice. The next release of the FinPal software will seek to bridge the gap created by advisers and brokers using different, disconnected ...

Changed RBA rate expectations?

BENJAMIN ONG  |  MONDAY, 6 NOV 2017
... nomination of Jerome Powell. If (when?) approved by the US Senate Powell will replace sitting Fed Chair Janet Yellen on 3 February next year, which is expected to provide continuity to the Fed's current softly, softly approach to monetary policy normalisation. ...

Diversification trumping growth: Schroders

ALEX BURKE  |  FRIDAY, 3 NOV 2017
... Despite this, the majority of respondents said increased market returns were more likely than decreased returns over the next three years, with few expressions of concern about a potential market correction. Reflecting that, the majority (78%) of participants ...

Industry fund restructures, hires for member engagement

JAMIE WILLIAMSON  |  FRIDAY, 3 NOV 2017
... and Westpac. Magee's proven track record in leading the financial planning business will prove particularly valuable in the next 12 months as the fund works to expand its service and support teams into Queensland and Western Australia following its merger ...

Students to manage university fund

DARREN SNYDER  |  THURSDAY, 2 NOV 2017
... fund from an industry perspective. "Funds such as the Student Investment Fund are invaluable as education tools to equip the next wave of investment leaders for careers in banking, finance and investment management," Pennisi said. All profits from the ...

NAB to simplify operations via job cuts

JAMIE WILLIAMSON  |  THURSDAY, 2 NOV 2017
... made redundant in finding future employment. "As we go through that for people that will be leaving our company over the next few years, we do want to do that well and we're establishing a vehicle called The Bridge. The Bridge will actually help people ...

Financial services firms eye machine learning

KARREN VERGARA  |  THURSDAY, 2 NOV 2017
... learning is a critical area to keep an eye on. The deployment of machine learning will be a "huge area of development" over the next one to two years, particularly in cyber-security defence, Lane told a recent BAE Systems and Australian British Chamber ...