Insights

Insights

August 2014

Posted by Anton Murray Consulting on . Posted in 2014

Melbourne is our second biggest recruitment market in Australia and the focus for our August newsletter. Melbourne remains a significant Australian hub for corporate activity and boasts a longstanding private wealth community stretching back for generations. Notably for Australian services financial recruitment, two of the Big Four, NAB and ANZ, are headquartered in Melbourne, although over the past decade they have had sizeable operations established in Sydney.

From a private wealth perspective there is a big client advisory community in Melbourne, seeking to tap the High-Net-Worth market. Many of the prominent private wealth businesses in Australia typically have relationship management teams in Melbourne that are larger than their Sydney businesses. Superannuation, as well as asset management, feature prominently in Melbourne. A significant player in this sector is Australia’s sovereign wealth fund, Future Fund, who this month announced that they have reached over $100bn in assets under management. Melbourne is also home to several other industry super funds, most notable of which is the acquisitive Australian Super, now reaching $66bn in assets under management. These large mega funds aside, there is also a raft of other smaller asset managers bridging the divide between private wealth and institutional money management to create a thriving investment community in Victoria.

Peruvian food has made its mark on Melbourne lately with a few new places opening up, one of which is Pastuso. Right in the centre of town at 19 ACDC Lane, Pastuso could be a good place for a more relaxed business lunch. It opened in July and has been well received so far.

Grabbing a bite to eat from food trucks is becoming more trendy and if you don’t mind a bit of casual outdoor eating, then head to Trailer Park this weekend. Don’t worry, the one in July had heated dining areas, so you won’t freeze during the experience.

If you are in Melbourne in October or November you might want to check out Brian Cox and Sir David Attenborough’s live shows. In the ‘90s he was an actual rock star but now he’s a rock star of a totally different kind; Brian Cox engages people around the world with his captivating science programs on topics like astronomy and physics. He’s made science cool again, and he’s in Melbourne this OctoberSir David Attenborough is a nature-loving legend, with over five decades of filmmaking under his belt, and he’s headed to Melbourne in November with a new 3D stage event.

RBS Said to Give Up Half of Office Space in Hong Kong’s Central

Posted by Anton Murray Consulting on . Posted in Investment Banking News

Michelle Yun

Royal Bank of Scotland Group Plc, the U.K. lender scaling back its investment-banking business, is planning to reduce the office space it rents in Hong Kong’s Central business district by half, according to two people with knowledge of the matter.

The bank leases about 60,000 square feet in the AIA Central building, the people said, declining to be named because the information isn’t public. It plans to keep half of that for Coutts & Co., its private banking unit, and most of the other employees will move to Lincoln House in the eastern district of Quarry Bay, where RBS already leases space, by the end of the year, they said.

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Skandia International develops growth strategy in Asia

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

Skandia International, part of Old Mutual Wealth, is developing its growth strategy in Asia with the expansion of its regional presence by entering into a strategic partnership with Jardine Lloyd Thompson Asia (JLT) and unveiling a new life cover solution to meet the needs of high net worth individuals and businesses in Asia.

The partnership with JLT is a key milestone in Skandia International’s Asian strategy. JLT has a global reach, and Skandia International will benefit from their experienced distribution network, with the potential to access 50 well-known private banks in Hong Kong and Singapore. This will enable Skandia International to offer its product and expertise to a broader set of customers, including high net worth Asian investors, the company said in a statement.

Funds management to drive GDP growth

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

Aleks Vickovich

The Financial Services Council will embark on a mission to increase Australia’s investment management exports to Hong Kong levels, off the back of research from Deloitte forecasting a $4.2 billion GDP boost.

Addressing the opening day of the FSC annual conference in Cairns yesterday, FSC chair and Schroder Investment Management CEO Greg Cooper said the time for introspective focus on domestic regulation such as FOFA and MySuper has passed, arguing it is time for the industry to truly go global.

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Barclays completes APAC trade finance leadership team

Posted by Anton Murray Consulting on . Posted in Investment Banking News

Christoph Kober

Barclays has announced a series of appointments on its trade finance leadership team in Asia on August 5.  Brandon Feng has been named head of trade and working capital team across North and Southeast Asia while Jeroen Reyes Stolker is now head of trade and working capital for the Middle East and India.

Feng and Stolker report to Baihas Baghdadi, managing director and head of trade and working capital, international, who commented: “The Barclays trade and working capital business offers corporates and financial institutions end-to-end trade solutions, and is able to leverage the strength of Barclays’ home market franchises in the UK and US, and a deep presence across Africa, to provide coverage across key global trade corridors.”

Treasury Group to merge with Northern Lights

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

Multi-boutique fund manager Treasury Group has announced plans to merge with US-based Northern Lights Capital Group, forming a new business with $49.6 billion in funds under management (FUM).

Northern Lights is a US-based multi-boutique asset management business with FUM of $24.3 across 13 funds management businesses.

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