The Financial Markets Authority (FMA) has put the call to licence custody in NZ on hold in the wake of its long-awaited ‘thematic review’ of the sector published last week. However, the FMA would keep the licensing option open as it seeks to tidy … [Read more...] about Custody free to go unlicensed (but with a warning); why vanilla is not the new green
Investment News
TE, Harbour, Research IP board for platform journey
Harbour Asset Management and Trustees Executors (TE) have emerged as partners in a new venture spearheaded by Darren Howlin, founder of Australian firm Research IP. Early in December, Howlin registered a new NZ company, Formosa Wealth, with both … [Read more...] about TE, Harbour, Research IP board for platform journey
Young ‘veteran’ steps up to top platform role; BNZ looks inside for private bank head; in-and-out for AMP board
Consilium has promoted Dayle McDonald to the new position of head of wrap solutions ahead of a platform upgrade due to switch on next April. McDonald has risen rapidly through the Consilium ranks since joining the Christchurch-based financial … [Read more...] about Young ‘veteran’ steps up to top platform role; BNZ looks inside for private bank head; in-and-out for AMP board
Local managers cool on climate change disclosure measures
A group of NZ fund managers is pushing for substantial changes to proposed government mandatory climate change-related financial disclosures. In a submission on the Ministry of Business, Innovation and Employment (MBIE) climate disclosure … [Read more...] about Local managers cool on climate change disclosure measures
Aussie super fund salaries versus performance – it’s mostly good news
In its first study of remuneration for senior super fund executives, start-up research firm Open Director has attempted to analyse correlations between fund performance and total executive pay packets. The good news is the highest paid tend to be … [Read more...] about Aussie super fund salaries versus performance – it’s mostly good news
Parliament signs off on more ‘inclusive’ $300m venture fund
The government’s $300 million venture capital fund cleared for take-off last week after receiving almost-unanimous parliamentary support. However, the Venture Capital Fund (VCF) legislation copped a few last-minute changes including two clauses … [Read more...] about Parliament signs off on more ‘inclusive’ $300m venture fund
Link taps into drip-feed buyers
Investment administration firm Link Market Services could offer investors access to a range NZX-listed funds via its just-launched online broking platform, according to the group’s head of business development NZ, Stan Malcolm. The Link ShareMeUp … [Read more...] about Link taps into drip-feed buyers
Geopolitics trumps cyber-concerns in global financial worry gauge
For the first time since inception in 2013, the Depository Trust & Clearing Corporation (DTCC) Systemic Risk Barometer Survey is flashing geopolitics above cyber-security as the number one danger to global financial stability. According to the … [Read more...] about Geopolitics trumps cyber-concerns in global financial worry gauge
DWS wins big global TAA mandate from ANZ Private
DWS has won a EUR 2.2 billion (A$3.5 billion) mandate from ANZ Private in Australia to provide Tactical Asset Allocation advisory services around its multi-asset model portfolios. Commenced in the third quarter of 2019, DWS also joined ANZ … [Read more...] about DWS wins big global TAA mandate from ANZ Private
Fair cop: government sneaks in conduct bill before year-end
The government introduced the financial institution conduct licensing legislation last night in a move that will impose tough new conditions on a wide range of entities. According to the explanatory note, the new Financial Markets (Conduct of … [Read more...] about Fair cop: government sneaks in conduct bill before year-end