News

Tim Stewart, InvestorDaily The creation of $70 billion retail super fund MLC Super is the culmination of a new strategy at NAB to “reorganise itself around the customer”, the bank said. Speaking at the American Chamber of Commerce in Melbourne yesterday, NAB chief customer officer Andrew Hagger described his efforts to bring the bank’s wealth […]

Adrian Flores, InvestorDaily Australian managed accounts now hold over $30 billion in funds under management (FUM), according to a survey by the Institute of Managed Account Professionals (IMAP). The IMAP’s 2016 Managed Accounts FUM Survey found the managed accounts sector constitutes around $30.87 billion in FUM, equivalent to approximately 5 per cent of all investment assets […]

Lianting Tu, Bloomberg Pacific Investment Management Co. is seeking to expand in an increasingly affluent Asia. The $1.5 trillion money manager is in the process of hiring more than 20 people in marketing, operations, legal and compliance teams in the next two years to help cover major retail banks in Hong Kong and Singapore. It also intends to […]

Tim Stewart, InvestorDaily The Australian economy remains surprisingly resilient, growing at 3.3 per cent over the year to 30 June, according to yesterday’s National Accounts. The National Accounts data, released by the Australian Bureau of Statistics (ABS), showed that gross domestic product (GDP) grew 3.3 per cent throughout the year to 30 June. Throughout the June quarter […]

Adam Haigh, Bloomberg Block Event, an Australian equity-trading venue run by a former Credit Suisse Group AG trader, will expand a business that combines the attributes of a dark pool and a sales desk into Hong Kong and Japan by the end of the year. Founders David Klinger and Phillip Weinberg hired Hong Kong-based Richard Macfarlane, a 51-year-old […]

Lynsey Barber, City A.M. Hong Kong is the latest city to follow the example of the UK’s financial watchdog and set up its own scheme to accelerate the development of financial technology. The Hong Kong Monetary Authority (HKMA) has launched a so-called sandbox to let banks experiment with as yet unregulated technology and ideas. “Within […]