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Insights

Westpac confirms new appointment to board

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

Westpac has added a key industry member to its board. The bank has confirmed the appointment of Audette Exel AO who will join the board as an independent non-executive director from 1 September. Ms Exel – who is the founder and chair of global non-government organisation Adara Group – has over 35 years’ experience in the industry as a senior executive, non-executive director and as a social entrepreneur.

Ms Exel previously served as a non-executive director of Suncorp Group, managing director of Bermuda Commercial Bank and director of Steamship Mutual. “We are delighted to welcome Audette to the board,” Westpac chairman, John McFarlane, said. “Audette’s extensive business leadership experience, entrepreneurship and deep contribution to philanthropy will bring new insights to the board and complement Westpac’s purpose of helping Australians and New Zealanders succeed.”

The rest of this article can be found at investordaily.com.au.

Blackrock takes the fight to boards on climate

Posted by Anton Murray Consulting on . Posted in Market Commentary

InvestorDaily

The investment giant’s latest stewardship report highlights that climate action is becoming an increasing point of agitation between company boards and investors, accounting for more than 2,300 of the group’s board engagements last year. Blackrock’s investment stewardship report for 2020-21 revealed that the world’s biggest asset manager had engaged with companies 2,330 times around climate and natural capital issues, compared with 2,200 for broader strategy issues and 2,150 for board quality and effectiveness. Of the more than 1,000 companies in Blackrock’s ‘climate-focus universe’ – which had been deemed by the investment manager to have the greatest risk to their operations from climate change – the group said more than 300 were not currently taking sufficient action on climate.

“We communicated our position throughout the past year that we expect companies to demonstrate how climate and sustainability-related risks are considered and integrated into their strategy,” Blackrock said. “For companies in our climate universe, we have more rigorously assessed their climate action plans and risk disclosures, voting against management when we believe accelerated progress is necessary to best serve the long-term economic interests of our clients.” The group voted against 255 directors for “climate-related concerns that could negatively affect long-term shareholder value”, according to the report.

The rest of this article can be found at investordaily.com.au.

‘Go where the emissions go’: The challenge for Australia to achieve net zero

Posted by Anton Murray Consulting on . Posted in Market Commentary

InvestorDaily

The former Bank of England governor has laid down the challenge for Australia to achieve net-zero emissions by 2050. Speaking at the Australian Council of Superannuation Investors conference on Wednesday, Mark Carney said all countries including Australia must “go where the emissions go”. “If we’re going to de-carbonise, let’s look at the industries that do need to do that,” he said.

“It’s classic investing – you’re identifying good management teams with plans that they can execute and providing them with capital. “I think that discipline of going there and assisting with the transition is going to make the difference in terms of what the world’s trying to do, which is to get to net zero.” Shortly after, Climateworks CEO Anna Skarbek joined a panel specifically discussing the path to net zero emissions, saying Australia “must capitalise” on emerging technologies.

The rest of this article can be found at investordaily.com.au.

Zurich announces new CEO for Australia and New Zealand businesses

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

Zurich has confirmed the appointment of a new CEO of its Australian and New Zealand businesses. The multi-line insurer announced Justin Delaney for the position, who will oversee Zurich’s life and investments and general insurance business across both countries. The move comes after current CEO Tim Plant “decided to pursue an opportunity outside the Zurich Group”.

Meanwhile, Mr Delaney will be supported by chief underwriting officer Sean Walker. “In Justin, we are fortunate to have a strong leader who has extensive experience in the local insurance industry and a solid track record in delivering customer-centred innovation,” Zurich’s APAC regional CEO, Tulsi Naidu, said. “Sean has been with the Zurich business for more than 10 years, he has held a variety of market-facing, underwriting and leadership roles over the course of his career and is well placed to support Justin.

The rest of this article can be found at investordaily.com.au.

Investment manager announces new Australian CEO and COO

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

Mirae Asset Global Investments has announced the appointment of a new chief executive and COO in Australia. Kris Walesby will join the Asia-founded company and take over as CEO after serving five years as CEO at ETF Securities. Mr Walesby has previously worked for a number of investment managers in London, including BlackRock, before moving back to Australia in 2015 as head of capital markets for Europe, Middle East and Africa at Invesco Powershares.

“My goal as CEO is to position the firm as the market-leading asset manager in Australia providing innovative investments,” Mr Walesby said. “We want to be regarded by clients, and broader communities, for consistently providing the best of breed investment solutions. “With the combination of Mirae Asset’s deep fund management expertise and the local knowledge of the existing team, we hope to establish a strong Australian identity.”

The rest of this article can be found at investordaily.com.au.

Fidelity International hires new portfolio manager

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

Fidelity International has announced the appointment of a new global growth-oriented portfolio manager. The global asset manager has confirmed Ashish Kochar will join the company in September in its London office from Columbia Threadneedle. Prior to his 13-year stint at Columbia Threadneedle – where he managed the Threadneedle Global Extended Alpha, American Extended Alpha, American Absolute Alpha and American Select funds – Mr Kochar worked at hedge-fund manager North Sound Capital and Merrill Lynch.

“Ashish is a welcome addition to Fidelity’s already strong global equity team,” Fidelity’s global chief investment officer, equities, Romain Boscher said. “He brings rich industry experience, proven stock picking acumen, a strong track record in managing global equities and a team-based mindset that will ensure the broad experience set within the global equities team is retained and strengthened.” The appointment follows the departure of Amit Lodha who stepped down as portfolio manager in June. Mr Lodha will continue to act as a consultant for Fidelity.

The rest of this article can be found at investordaily.com.au.

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