Industry Updates

RBA gives 25bps increase

In the final board meeting for the RBA in 2022, the reserve bank has increased the cash rate by 25bps to 3.10 per cent.

Qualitas appoints new head of income credit

Alternative real estate investment manager Qualitas has appointed Mark Power as the head of income credit.

Financy partners with UniSA for diversity tech solution

Australian fintech Financy has partnered with the University of South Australia’s Centre for Workplace Excellence (CWeX) to develop Impacter – a new tech solution that helps organisations manage and prioritise performance on diversity, equity and inclusion.

Australia’s AAA rating reaffirmed

Australia’s AAA credit rating has been reaffirmed by international ratings agency Fitch Ratings, according to an announcement from Treasury. 

Fogarty joins Kelly & Partners Chartered Accountants

Former Fitzpatricks Private Wealth chief executive Matt Fogarty has commenced a new role as head of private wealth at Kelly & Partners Chartered Accountants.

HESTA completes merger with Mercy Super

Some 13,000 Mercy Super members and their assets have moved to industry fund HESTA in a recently-completed merger, bringing the total funds under management to almost $70 billion.

Talaria appoints new head of sales

Talaria Asset Management has appointed Lance Oliver to the newly created role of head of sales.

Former VicSuper CEO to replace CareSuper’s Lander

Former VicSuper CEO Michael Dundon has been announced as the replacement for outgoing CareSuper CEO Julie Lander. 

PGIM Real Estate appoints new managing director

PGIM Real Estate has hired James Footh as a managing director on the global data center investments portfolio management team.

ASIC places stop orders on four funds

ASIC has issued interim stop orders preventing Australian Fiduciaries Limited (AFL) and APS Savings from offering or distributing three funds to retail investors because of deficiencies in their target market determinations (TMDs).

North launches custom managed portfolio service

AMP’s wrap investment platform North has launched ‘Buy, Badge, Build’ for advisers to customise their own branded managed portfolios.

MLC appoints new board director

MLC Life Insurance has appointed Catherine Dubé as an independent non-executive director on its board. 

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