Wealth Management News

Wealth Management News

Citi launches Sydney wealth hub

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The multinational banking group has expanded its presence in the Australian wealth management market, opening a Sydney centre for high-net-worth clients. In a statement, Citi said it had opened a “wealth hub” within its Sydney CBD banking offices that was “designed to be a holistic knowledge sharing space” for high-net-worth clients. The group’s head of banking and wealth distribution Gofran Chowdhury said Citi had reconfigured the way it was engaging with this client group to deliver a more personalised experience, following the closure of its remaining physical bank branch in Australia in February.

“While 95 per cent of Citi’s banking interactions have been happening outside of branches for a number of years, our high-net-worth customers still value face to face interactions,” Mr Chowdhury said. “As a result, we’ve built a tailor-made space where we can deliver a strong level of personal engagement for these clients as we work together to provide investment guidance and manage their wealth.” Mr Chowdhury said following the establishment of a similar wealth hub for Melbourne clients in 2019, Citi’s assets under management had risen 12 per cent and the number of transactions the bank was processing for clients had doubled.

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

Aus Ethical sets sights for domination

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The ethical wealth group has set the ambitious goal of becoming one of Australia’s largest investment managers by the end of the decade, as it is looks to shake up its asset allocation and technology capabilities. Australian Ethical has signalled an incoming revamp to its asset management, to result from an external review, as it has also hired a new head for the division. John Woods has jumped ship from MLC, where he was a portfolio manager, to take the role of head of asset allocation at Australian Ethical.

The new job will see him take responsibility for the group’s balanced fund and overall strategic allocation process. Mr Woods’ appointment has followed the recent promotion of former equity analyst Mike Murray to head of domestic equities. The group also recently enlisted start-up asset manager Alpha Vista, to conduct a review of its asset allocation governance framework.

Aviva names real assets CIO

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

InvestorDaily

Aviva Investors has appointed a chief investment officer of its real assets business. Daniel McHugh will be taking the role, replacing predecessor real assets CIO Mark Versey, as he has become the group’s new chief executive. In his new role, Mr McHugh will report to Mr Versey and will be responsible for the strategy and growth of Aviva Investors’ integrated real assets business, encompassing real estate, infrastructure and private debt.

He will oversee around 33 professionals working across fund and asset management, development, transactions, origination, underwriting, research and business management. Mr McHugh will join the Aviva Investors executive team. He joined the company in 2018 as managing director, real estate. He is also a member of the real assets senior leadership team.

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

Citi names wealth client director

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

Citi Australia has recruited internally for the newly created role of client director in its wealth business. Kan Liu has taken the role, where he will be held responsible for managing Citi’s top high-net-worth clients. Mr Liu has worked in banking roles at Citi for 10 years, specialising in fixed income and foreign exchange solutions.

Gofran Chowdhury, head of banking and wealth management distribution at Citi, commented: “The experience of 2020 highlighted that we need to work more closely with clients than ever before, as we navigate unprecedented events and ensure their wealth is both protected and enhanced. “In his new role, Kan will help us deliver on this objective.” The appointment comes after Citi reported its retail bank’s fixed income assets under management grew by 30 per cent in 2020, while overall investment transactions were up by 10 per cent despite the headwinds that came with COVID-19.

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

 

Former AMP director joins Iress

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The wealth tech group has recruited an ex-director of corporate development at AMP to oversee the integration of OneVue into its business. In a statement, Iress said it had created the new role of head of corporate development and market infrastructure for Warwick Angus, a former principal for global consulting firm EY and director of corporate development at AMP. The technology firm said Mr Angus would have responsibility for “driving and delivering the strategy to grow and scale market infrastructure in Australia”, with a focus on embedding the group’s recent acquisition of platform provider OneVue.

“I’m delighted to announce the appointment of Warwick to this critical role,” Iress chief executive Andrew Walsh said. “Our acquisition of OneVue represents a unique opportunity to combine Iress’ technology footprint with OneVue’s market-leading managed fund admin business. “Our offering will provide open infrastructure to enable the industry and investors to transact and report seamlessly, improve efficiency and transparency and cost for all participants, and to promote innovation.

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

‘Good does better’ for Australian Ethical

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

InvestorDaily

Australian Ethical has surpassed an “audacious and visionary” target as FUM grew more than 15 per cent over the December quarter. Australian Ethical’s FUM now stands at $5.05 billion, surpassing a target set in 2015 when FUM stood at $1.4 billion. FUM was up 16.9 per cent from September 2020 and 24.6 per cent over the financial year to date following record net inflows and “exceptional investment performance”.

“Back in 2015, we set the audacious goal of growing funds under management from $1 billion to $5 billion by 2020. It’s great to have met that target,” said chief executive John McMurdo. “Of course, 2015 was also the year that Australia and other countries around the world committed to the Paris Agreement on climate change, and the United Nations established the Sustainable Development Goals (UN SDGs). While progress has been disappointingly slow on both those fronts, at Australian Ethical we’re showing what positive action looks like by investing in ethical companies that are driving a more sustainable future while delivering strong returns for our customers.”

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

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