Industry Updates

Australian Ethical hires new CIO

Ethical investment manager Australian Ethical has made several additions to its leadership team.

Cassin rejoins bfinance as global head of investments and research

Independent investment consultancy bfinance has appointed Olivier Cassin as its global head of investments and research.

CALI adds veteran policy directors to executive team

The Council of Australian Life Insurers has appointed Ben Marshan as director of policy and industry affairs and Michael Johnston as director of policy and advocacy.

Australian Ethical divests from Lendlease over koala development

Australian Ethical has sold its shares in Lendlease Group over its planned development at Mt Gilead in south-western Sydney, which could threaten the survival of one of the last remaining healthy koala colonies in NSW.

Around $4.5b in remediation due from big 6 instos

Six of Australia’s largest banking and financial services institutions have paid or offered $4.7 billion in compensation to customers who suffered loss or detriment because of fees for no service misconduct or non-compliant advice, according to an update from ASIC.

ASIC places interim stop orders on derivatives product

ASIC has made two interim stop orders preventing Interactive Brokers from issuing Stock Yield Enhancement Program (SYEP) Derivatives to retail investors because of deficiencies in the product’s Target Market Determination and Product Disclosure Statement.

First Super appoints IFM Investors to manage strategy

Industry super fund First Super has appointed investment services provider IFM Investors to manage a new indexed international equities strategy.

SuperFriend appoints former Equipsuper CEO as chair

Industry mental wellbeing non-profit SuperFriend has appointed former Equipsuper CEO Nicholas Vamvakas as chair of its board of directors.

Private markets firm opens office in Australia

Private markets investment management firm Adams Street Partners , LLC has opened an office in Sydney.

Midwinter partners with CQUniversity to roll out advice tech

Midwinter Financial Services has partnered with CQUniversity Australia to provide financial planning software to students undertaking relevant studies.

intelliflo begins operating in Australia

Cloud-based advice technology platform intelliflo has officially commenced operations in Australia.

FPA policy head Ben Marshan steps down

Financial Planning Association head of policy Ben Marshan has announced he is stepping down from the role after seven and a half years as a staff member at the association.

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