The frictionless movement of assets is becoming a common feature of markets around the developed world, yet Australia remains a step behind. The ASX is in no mood to rush the move to T+1, however, after its calamitous attempt to implement distributed ledger technology.
It’s a dire situation for consumers but a massive tailwind for financial advisers. More people and more capital in the superannuation coffers than ever, with a stubbornly small number of advisers to service them.Â
Suncorp’s chief banking and wealth departs after three months
Lee Hatton has departed Suncorp as its chief executive of banking and wealth after just three months in the job. Hatton acknowledges that her departure is due to the impacts of the commute from Sydney to Brisbane on her family.Bruce Rush has been appointed as acting chief executive of banking and wealth until a permanent appointment has been made. Rush is currently the executive general manager of deposits and payments and has held a number of senior roles with the bank since 2010.
The Future Fund has promoted its chief investment officer (CIO) Raphael Arndt to chief executive officer. Arndt joined the Future Fund in 2008 and served as its CIO since 2014. He takes over from Cameron Price who has been in the role on an interim basis since March. The Future Fund will commence the recruitment process for a new CIO soon.
The Tax Institute has appointed Robyn Jacobson as senior advocate. She has been with the Institue for over nine years and is a key contributor to its committees and professional development events. Jacobson is a senior tax trainer at TaxBanter and was formerly chair of the Victoria Public Practice Committee at CPA Australia. The appointment is part of The Tax Institute’s efforts to bolster advocacy to support members through the challenges faced as a profession, since the onset of COVID-19, while building on a level of tax technical expertise.
