Former Perpetual managing director Geoff Lloyd has been announced as the new chief executive of MLC, following NAB’s decision to exit its wealth management business.
One fund manager anticipates more trouble ahead for global markets as trade talks and Brexit tensions play havoc with international equities.
Analysts have warned that the royal commission final report will be “highly critical” of troubled wealth giant AMP and expect its recommendations to negatively impact the group’s vertically integrated business.
The Treasurer has today confirmed that the royal commission final report will not be released on 1 February.
The royal commission final report is likely to further damage IOOF’s chances of acquiring ANZ’s OnePath business and recommend sweeping changes to the wealth management industry.
A large number of institutional investors from the Asia-Pacific region are making significant changes to their asset allocation plans as their economic forecasts turn bearish.
The head of one of Australia’s largest wealth management companies will step down from his role of managing director immediately after a decade with the ASX-listed group.
A financial technology and infrastructure company has announced plans to acquire an Australian corporate trust business for $51.6 million.
The listed financial services group has today named its acting chairman and chief executive officer after APRA commenced disqualification proceedings against the group’s executives last week.
IOOF subsidiary Bridges Financial Services has entered into a strategic partnership with Bendigo and Adelaide Bank with respect to advice servicing rights of Bendigo Financial Planning Ltd’s clients.
A global law firm has warned financial services companies eager to go public to address potentially conflicted remuneration and consider how a commission-free business model will impact profits.
Link Administration Holdings Limited has entered into a binding agreement to sell part of its UK division to a global fund administrator for approximately $450 million.
Moelis Australia has posted record earnings for FY18, more than doubling its asset management EBITDA to $52.5 million from $23.4 million in FY17.
NAB chief operating officer Antony Cahill has announced he is departing the major bank to return to his family in the UK where he will take up a senior role at payments giant Visa.
The major bank has announced additional charges of $525 million after tax in connection with increased provisions for its customer-related remediation program.
Sargon Capital has acquired Diversa Trustees Limited from OneVue in a $45 million deal that will bring Sargon’s assets under trusteeship and supervision to more than $53 billion.
A former Australian Unity executive has been appointed chief executive at Premium China Funds Management.
International proxy advisory firm ISS has today announced the acquisition of an Australian provider of research on the environmental, social and governance performance of Australian companies.
Around 75 per cent of financial services CEOs have serious concerns about shortages of digital skills in an industry experiencing seismic levels of disruption from new technologies.
It’s been another busy year for Australian investors with market volatility, political upheaval, a new PM and plenty of news from the royal commission.
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