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Showing 1 - 10 of 33 results for "AET"

Licensee chair steps down

KARREN VERGARA  |  WEDNESDAY, 10 NOV 2021
The founder and chair of a licensee will step down from executive duties at the end of the year. Fortnum Private Wealth announced that Ray Miles will retire but will continue serving as non-executive chair. He will provide counsel to the board and leadership ...

Outflows continue at IOOF

KANIKA SOOD  |  THURSDAY, 29 APR 2021
... self-employed advice model. In the investment management business, $469 million out of the $507 million total net outflows came from AET cash deposit funds' restructure. The company says the revenue differential from the change is "negligible". On pensions ...

IOOF subsidiary loses appeal

ANNABELLE DICKSON  |  FRIDAY, 5 FEB 2021
... appeal against a decision made by the Supreme Court of New South Wales in 2019 in the S.E.A.S Sapfor Forests Pty Ltd case. AET was appointed as trustee of the S.E.A.S Sapfor Forests Pty Ltd in 1965 and the scheme was to invest in timber on behalf of ...

IOOF abandons AET sale

KANIKA SOOD  |  FRIDAY, 4 DEC 2020
... retail trustee Australian Executor Trustee business. On August 31, IOOF said it had received an expression of interest for AET. "IOOF has considered the expression of interest and confirms that discussions regarding the potential sale of AET ceased," ...

Raiz cuts AET amid Sargon saga

ALLY SELBY  |  MONDAY, 2 MAR 2020
The board of investment platform Raiz has replaced Australian Executors Trustees (AET) as its independent custodian, in what comes as the latest development in the Sargon saga. Raiz has appointed Perpetual Corporate Trust as its new independent custodian ...

IOOF expects to reappeal timber case

KANIKA SOOD  |  MONDAY, 30 SEP 2019
... they eventually copped losses. One of the convenantholders, David Kerr backed by litigation funder IMF Bentham demanded that AET pay compensation of over $82 million on behalf of the investors. On Thursday, the Supreme Court of New South Wales said he ...

Former IOOF company loses court battle in timber scheme

KANIKA SOOD  |  FRIDAY, 27 SEP 2019
... pay about $80 million after yesterday's court judgement on its conduct as the trustee to a forestry investment scheme. AET was appointed as the trustee of the S.E.A.S Sapfor Forests Pty Ltd in 1965. The scheme was to invest in timber on behalf of ...

Federal Court delivers APRA, IOOF verdict

JAMIE WILLIAMSON  |  FRIDAY, 20 SEP 2019
... Gary Riordan. APRA was seeking significant changes to the identification and management of conflicts of interest by IIML, AET and IOOF. According to APRA, the action is based on concerns it raised in 2015 relating to IOOF and its entities' organisational ...

IOOF names new chief executive

HARRISON WORLEY  |  TUESDAY, 25 JUN 2019
... announced Andrew Bloore would take a seat at the board. Bloore already sits on the board of three IOOF subsidiaries; IIML, AET and IOOF, and according to the firm has played an "integral role" in ensuring the firms met their applicable APRA licence c ...

APRA flexes new muscles

HARRISON WORLEY  |  WEDNESDAY, 22 MAY 2019
... show cause notices in April for their failure, IOOF Investment Management Limited (IIML) and Australian Executor Trustees (AET) have now been ordered by APRA to set up the OST by 30 June, or risk facing a financial penalty under the SIS Act. Today, the ...
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