Industry superannuation funds look set to match the product offerings of the big retail master trusts.
That, at least, seems to explain the job description for the new national business development manager being recruited by the industry funds bank, Members Equity.
According to the recruitment information, the new national business development manager will be expected to undertake the “acquisition of retail banking products” while ensuring that “large industry funds are actively marketing retail banking products to members through all available channels, including banking opportunities provided to product managers”.
Recruitment for the new position follows the roll-out of the industry funds choice of superannuation fund campaign and follows warnings by senior union officials that industry funds will need to match the offerings of the retail master trusts if they are to retain members in the new choice environment.
Members Equity is expected to appoint someone to the position late next month.
