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Showing 71 - 80 of 1522 results for "Division 296"

500 jobs to be axed at abrdn

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2024
... The fund manager is targeting a cost reduction of $290 million (£150m) by the end of 2025 to restore its investments division "to an acceptable level of profitability and allow for incremental reinvestment into growth areas." It follows a "root and ...

Insignia Financial touts strong start to FY24, simplification

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2024
Insignia Financial has reported more than $300 billion in funds and named a chief client officer to run the newly created client wellbeing arm as it progresses its simplification strategy. In a quarterly update, Insignia said its funds under management ...

Advice group awards mandate to JANA

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JAN 2024
A financial advice group with close to $2 billion in funds under advice has selected JANA as its investment consultant. The consulting group's wealth division was awarded a mandate by Alteris Financial Group, effective December 2023. It covers asset ...

MSC Trustees acquires Certane Corporate Trust

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
MSC Trustees has acquired Certane Corporate Trust, the fund administration and corporate trustee business formerly owned by the now-defunct Sargon Capital. Following the transaction settlement on January 12, MSC Trustees now has some $30 billion in ...

J.P. Morgan pays US$18m over whistleblower rule breaches

JAMIE WILLIAMSON  |  WEDNESDAY, 17 JAN 2024
The investment giant was in hot water for blocking hundreds of retail clients from reporting potential securities law violations by having them sign confidential release agreements when receiving credits or settlements more than US$1000 ($1518). The ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
Once again, Financial Standard readers were captivated by the evolving superannuation landscape, with this year's top stories largely focused on this space. However, there was one particular executive move that simply couldn't be scrolled past. ...

Federal Court approves BT Super $30m settlement

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
The Federal Court approved the $29.95 million class action settlement against Westpac after subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member ...

Vanguard sells outsourced CIO arm to Mercer

JAMIE WILLIAMSON  |  WEDNESDAY, 6 DEC 2023
Mercer has acquired Vanguard's outsourced chief investment officer (OCIO) function, taking on board its 120-strong team. The business, which provides investment management services to not-for-profits and other institutional investors in the US, grows ...

Link names retirement, super product lead

JAMIE WILLIAMSON  |  THURSDAY, 30 NOV 2023
Link Group has named a chief product officer to lead the development and strategic direction of its retirement and superannuation solutions. Jonathan Shaw will step into the role of chief product officer for Retirement and Superannuation Solutions (RSS) ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...