Industry Updates

Union director and former AIST president joins REST board

REST has named Catherine Bolger as a new employee-nominated board director, replacing Julia Fox who retired in May 2024.  

Global X CEO steps down

Global X chief executive officer Evan Metcalf has stepped down from his role, having spent a decade at the firm including almost two years as CEO.

Cbus names head of portfolio construction

Cbus Super has appointed former Victorian Funds Management Corporation chief investment officer Justin Pascoe as head of portfolio construction.  

Succession Matters appoints Luke Towers as partner

Insurance advice business Succession Matters has appointed Luke Towers as partner.

LGT Crestone adds Escala co-founders

LGT Crestone has hired Steve Collins and Mason Allamby as partners and investment advisers. They will lead a team providing advice to high-net worth clients, family offices and non-profit organisations. 

Mercer Super pays $11.3m greenwashing penalty

In another win in ASIC’s greenwashing crackdown, the Federal Court has today ordered Mercer Super to pay a $11.3 million penalty after it admitted to making misleading statements about the sustainable nature and characteristics in some investment options. 

APRA removes additional licence conditions on AMP Super trustee

Prudential regulator APRA has removed additional licence conditions imposed on N.M. Super.  

Brighter Super CEO wins annual FEAL award

Brighter Super chief executive Kate Farrar has been awarded fund executive of the year by the Fund Executive Association Limited.  

REST, Barings begin work on Kemps Creek industrial estate

REST and Barings have officially begun the development of logistics and industrial estate at Kemps Creek in Sydney south-west, after the two jointly acquired the site in April. 

Freshwater Wealth adds former Westpac advisers

Advice practice Freshwater Wealth has hired two partners, increasing its adviser numbers from three to five, following an influx of wealth transfer clients. 

CFS signs 5 year agreement with Microsoft to improve AI usage

Colonial First State have signed a five-year agreement with Microsoft that will strengthen the company’s use of cloud and AI technologies. 

Allianz Retire+ joins CALI as newest full member

Life insurer Allianz Retire+ has joined the Council of Australian Life Insurers as its newest full member. 

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